Finland allocates additional EUR 92 Mn for Ukraine and countries affected by Russian aggression

Finland is allocating an additional EUR 92 million to support Ukraine and countries affected by Russian aggression, the country's Foreign Ministry said on Monday, 9 October, Finland’s support to Ukraine, channelled through the World Bank Group, will be used to strengthen basic public services, repair critical infrastructure, promote policy reforms and lay the foundation for Ukraine’s reconstruction and recovery. Part of the support will be used to help the least-developed countries affected by the Russian invasion and by other global crises.
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Prime Minister of Finland Petteri Orpo and President of Ukraine Volodymyr Zelensky (Picture source: Pridency of Ukraine)

The International Development Association (IDA) of the World Bank Group launched a new financing program, the Crisis Facility, earlier this year to scale up support to Ukraine and Moldova and to other countries affected by Russia’s aggression against Ukraine. Finland contributes EUR 92 million to the IDA Crisis Facility from development cooperation funds administered by the Ministry of Foreign Affairs. “This additional funding shows Finland’s unwavering support to Ukraine in line with the Government Programme. We will also support improving food security in countries affected by Russia’s invasion,” says Minister for Foreign Trade and Development Ville Tavio.

Finland will allocate EUR 62 million to Support Programme for Ukraine and Moldova Recovery: EUR 12 million of the amount will be allocated as a grant and EUR 50 million as a loan. In addition, Finland will provide EUR 30 million in loans to countries affected by Russia’s aggression to help them prevent the spread of infectious diseases, among other efforts.

In Ukraine, the Special Program for Ukraine and Moldova Recovery will address needs in the health, transport, energy, agriculture, housing and social security sectors. It will help improve access to healthcare services, modernise medical care, promote the availability of services addressing acute energy deficits, repair vital road and railway networks and residential buildings and sustain agricultural activities. It will also accelerate long-term efforts to support Ukraine’s recovery and the reconstruction of critical sectors. Particular attention will be paid to the rights of women, girls and persons with disabilities. “We must ensure that critical services are functioning despite the war,” says Minister Tavio.

In Moldova, the IDA Crisis Facility will primarily help cover the costs of receiving people fleeing Ukraine and finance development programmes and crisis preparedness supporting Moldova’s economic and social recovery.

Defense News October 2023