Japan has developed five models of financial support for Ukrainian businesses
Photo: Ministry of Economy

Ministry of Economy, Environment and Agriculture of Ukraine conducted a working meeting with the Japan International Cooperation Agency (JICA), during which the Japanese side presented five models of financial cooperation to support Ukrainian businesses and innovative companies.

During the discussion, the organization presented a new component of the project to support small and medium-sized enterprises, which was launched in October 2025. Its task is to outline the directions of future support from the Government of Japan for the development of Ukrainian business, in particular innovative companies and joint Ukrainian-Japanese projects.

The agency has developed five possible models of financial cooperation with Ukraine, including lending to enterprises through the BDF (Entrepreneurship Development Fund) or state-owned banks – this is already possible within the current regulatory framework.

JICA's participation in funds that will invest in Ukrainian companies is also being considered.

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Among the options is the potential creation of a Fund of Funds (FoF), an instrument that accumulates funds from the state and private investors and directs them to venture funds. At the same time, JICA noted that the launch of an FoF in Ukraine would require significant legislative changes, while credit instruments could be implemented much faster.

"We are interested in tools that really work: fast loans for businesses, investment funds, and partnership projects with Japanese companies. Japan is one of our most technologically advanced partners, and JICA's participation can be the bridge that gives Ukrainian startups access to markets, capital, and expertise. This is not just support – it's a chance to grow a new wave of Ukrainian technology companies," said Pavlo Kartashov, Deputy Minister of Economy, Environment and Agriculture of Ukraine.

  • JICA is a Japanese government agency that implements international development programs and provides support to partner countries in economic recovery, modernization, and private sector development. For Ukraine, JICA is one of the key partners in attracting investment, strengthening institutional capacity, and creating new business opportunities.

  • On March 5, it became known that the Japan International Cooperation Agency (JICA) is considering the possibility of financing energy and infrastructure projects in Ukraine, which were previously supported by the United States Agency for International Development (USAID).
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