Japan increases offer of emergency loans to Ukraine to $300 mil.

By Yuya Yokobori / Yomiuri Shimbun Correspondent

12:54 JST, April 20, 2022

WASHINGTON — Prime Minister Fumio Kishida said Japan would increase financial support loans for war-torn Ukraine to $300 million (about ¥38 billion) during a video call with U.S. President Joe Biden and other Western leaders on Tuesday.

The leaders of Japan, the United States, European countries including Britain, France and Germany, and the North Atlantic Treaty Organization secretary general, among others, held a virtual meeting to coordinate measures against Russia over its invasion of Ukraine.

According to the White House, continued support for Ukraine and efforts “to hold Russia accountable” were the main focus of the meeting hosted by the United States.

As the Russian military intensifies its offensive in eastern Ukraine, the Biden administration is poised to hasten its response with Japan, Europe, and other nations.

“We are at a crucial moment to end Russia’s brutal aggression and to preserve peace and order,” Kishida said in the meeting.

“There is an urgent need to support Ukraine’s economy,” he said, pledging to increase Japan’s offer of emergency loans from an initial offer of $100 million to $300 million.

At a news conference on Monday, White House Press Secretary Jen Psaki said: “We are continuing to review and consider additional sanctions … You will see us continue to expand our sanctions targets and to continue to take steps to both further tighten our sanctions to prevent evasion and put in place additional sanctions.”

Details regarding additional sanctions are believed to have been worked out during Tuesday’s video conference.