Ukraine and Japan have ratified a credit agreement (in the form of exchange of notes) on the Second Development Policy Loan (DPL II) to carry out economic reforms worth $300 million, Finance Minister of Ukraine Natalie Jaresko said in Kyiv on Friday.

"In April we hope that we will receive the credit funds in one tranche and they will be sent to the general fund of the national budget," she said at a joint press conference with Japanese Ambassador to Ukraine Shigeki Sumi.

The minister said that the credit is issued for the period of 20 years with the grace period of six years and credit rate of Libor+0.5%, which is less than 1% per annum today.

Jaresko said that Ukraine has observed 10 conditions on carrying out structural reforms to obtain the funds.