Japan to Issue Bonds for Financial Aid to Ukraine

Politics

Tokyo, Jan. 20 (Jiji Press)--The Japanese government is preparing to issue special bonds to a World Bank Group fund to help strengthen international financial aid to Ukraine, which is under Russia's aggression, informed sources said Friday.

The so-called contribution bonds will give Japan's guarantee for part of World Bank loans to Ukraine. The Japanese government will pay cash for the bonds when requested.

The government plans to submit a related bill to this year's ordinary session of the Diet, Japan's parliament, to be convened on Monday.

The bill will set an upper limit on the amount of such bonds to be issued, and the government will coordinate with the World Bank to decide a specific amount to be issued.

The bonds are planned to be issued to a fund related to loans for Ukraine that will be established by the International Bank for Reconstruction and Development, a World Bank Group lender.

[Copyright The Jiji Press, Ltd.]

Jiji Press