The Japanese government opened a Kyiv office for the Japan International Cooperation Agency (JICA) on Nov. 20, in a sign that new projects for the Ukrainian economy could be on the way.
The office will manage the more than $3.1 billion that Japan has already invested into Ukraine through JICA, with officials at an opening ceremony for the branch saying that the office’s creation anticipates future projects.
“This is a sign for foreign investors that it’s okay to invest in Ukraine,” said Vice Prime Minister Hennadiy Zubko, who was at the ceremony.
The opening ceremony for the office, which was held on Nov. 21, was attended by Economic Development Minister Stepan Kubiv and Bloc Petro Poroshenko Deputy Leonid Yemets, in addition to Zubko.
Japanese officials in attendance included Ambassador Shigeki Sumi, JICA Vice President Kazuhiko Koshikawa, and JICA’s new Ukraine representative Takaaki Kawano.
*** JICA is the Japanese state development bank, providing loans, grants, and training programs for countries around the world. Out of the $3.1 billion that Japan has invested in Ukraine, around $1.69 billion has come in the form of long-term loan agreements. The country extended a $1.1 billion loan to modernize the Bortnychi sewage plant in a bid to improve how Kyiv disposes of waste. A $170 million loan – to finance the construction of Boryspil International Airport’s international passenger terminal D – was disbursed in 2005.