Japan’s state export credit agency, Nexi, will provide €1.25bn in credit lines for investment and exports to Japanese companies operating in Ukraine.

The announcement came during a visit by Ukrainian Government officials to Tokyo, headed by the country’s Prime Minister, Denys Shmyhal.

According to Shmyhal, the event was attended by “representatives of the business communities of our two countries, government officials, representatives of municipalities and regions.

“In Ukraine, Japanese companies showed great interest in launching and implementing new projects. Japan should become one of the leaders in the economic recovery and reconstruction of our country,” he added.

During the meeting, Ukrainian and Japanese officials signed a series of 56 documents, including:

  • agreements enabling Ukraine to implement funds provided by Japan’s International Cooperation Agency to rebuild the energy and transport sectors and to help with mine clearance
  • documents signed between Ukraine’s Ministry of Agriculture and Japanese agricultural machinery companies
  • agreements enabling the Japan Urban Revitalisation Agency to help rebuild Ukrainian settlements destroyed by the Russian invasion.

News about the Ukrainian delegation’s visit to Tokyo comes after multiple Western companies have announced new projects in the country, which is currently at war with Russia.

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At the beginning of February, Türkiye’s Baykar announced that it was starting work on a drone factory near Kyiv, Ukraine’s capital. The new factory will hire around 500 people and is expected to manufacture either Baykar’s TB2 or TB3 drone models.

Ukraine’s military has widely deployed the TB2 models in its war against Russia.

In a separate meeting in February, Ukrainian and Taiwanese business delegations from Taiwan’s Trade Centre in Kyiv and the Taiwan Representative Office in Poland discussed ways to establish economic, trade and business cooperation between Kyiv and Taipei.