This latest funding comes on top of $US54 million already granted for the project.
The Japanese Ambassador, Takuji Hanatani, says Vanuatu will benefit from the construction of a new wharf, a container yard, an administration building and other important facilities.
Mr Hanatani says Vanuatu's current port facilities have limited capacity for handling the demand of the country's broader shipping sector, which includes cruise ships, freighters and fuel tankers.