The Swedish government has approved the allocation of SEK 1.4 billion (more than €126 million) to support the World Bank's new crisis mechanism providing assistance to Ukraine.
This was announced on the Swedish government's website.
“Ukraine’s resilience must not be taken for granted. Ukraine requires extensive support in order to be able to continue to pay salaries to its healthcare staff and keep its electricity grid intact. For this reason, the Government has today decided to contribute SEK 1.4 billion to the World Bank for its operations in Ukraine, thus making it possible to issue new loans to Ukraine corresponding to SEK 4.2 billion. Ukraine is defending not only its own freedom, but ours as well,” says Minister for International Development Cooperation and Foreign Trade Benjamin Dousa.
The allocated funding will make it possible to provide new loans totaling approximately SEK 4.2 billion (more than €380 million) for Ukraine's reconstruction and recovery.
Sweden's contribution will be directed to the World Bank's Special Program for Ukraine Recovery 2.0 under the new Crisis Facility 2.0 of the International Development Association (IDA).
According to the press release, Sweden's current contribution complements the World Bank guarantee announced by the Swedish government on May 29, which enabled the provision of new loans to Ukraine totaling approximately SEK 2.5 billion (more than €226 million).
