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Main Diplomacy — Finland will provide €92 million to Ukraine and countries affected by Russia's aggression

Diplomacy

Finland will provide €92 million to Ukraine and countries affected by Russia's aggression

10 Oct, 2023
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Finland will provide €92 million to Ukraine and countries affected by Russia's aggression

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The Ministry for Foreign Affairs of Finland announced on Monday that they are allocating an additional €92 million to support Ukraine and countries affected by Russian aggression through the World Bank.

These funds will be directed to the Crisis Fund of the International Development Association group of the World Bank, which was created earlier this year to expand support for Ukraine and Moldova, as well as other countries affected by Russian aggression against Ukraine.

Out of the €92 million, €62 million will go toward the Program for the Recovery Support of Ukraine and Moldova, with €12 million in the form of a grant and €50 million as a loan. In Ukraine, these funds will be used to address needs in healthcare, transportation, energy, agriculture, housing construction, and social security.

In Moldova, the IDA Crisis Fund will primarily help cover the costs of hosting Ukrainian refugees and finance development programs and crisis readiness.

The remaining €30 million will be provided in the form of loans to countries affected by Russian aggression to help them prevent the spread of infectious diseases.

This additional funding demonstrates Finland's steadfast support for Ukraine, and it aligns with the Government Program's commitment to assisting Ukraine. The Minister for Foreign Trade and Development of Finland, Ville Skinnari, stated that they will also support improving food security in countries affected by Russian aggression.

The Odessa Journal

The Odessa Journal

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