Sweden to allocate €523 mln for Ukraine's recovery projects
Sweden will allocate SEK 6 billion (EUR 522.6 million) for Ukraine's reconstruction projects.
The Swedish Government has finally approved the strategy of cooperation between Sweden and Ukraine in the field of development and reforms for 2023-2027.
What is the problem?
On May 23, Zelensky said that Ukraine needs more than $400 billion to rebuild after the devastation caused by Russia's war.
What is the solution?
The Swedish Government has finally approved the strategy of cooperation between Sweden and Ukraine in the field of development and reforms for 2023-2027.
This is the largest bilateral aid strategy for Sweden in its entire history, the press service of the Swedish government reports.
How does it work?
We highly appreciate Sweden's decision to invest SEK 6 billion in Ukraine's economic development and bring us closer to victory. This is the first comprehensive multi-year strategy to support Ukraine adopted by our partners.
The funds will be used to rebuild infrastructure, green development, entrepreneurship, trade, demining, and media. We also welcome the fact that the Swedish government will encourage large companies to enter and develop in Ukraine, says the First Vice PM Yuliia Svyrydenko.
According to her, private business is the most important investor in the reconstruction of Ukraine.
It is important for us to attract foreign investment, involve international business in reconstruction projects, and expand cooperation with Ukrainian business, the official said.
Svyrydenko spoke about the comprehensive work that the government is doing on the Economic Recovery Plan for Ukraine for 2024-2027 under the Ukraine Facility mechanism proposed by the EU.
Attention was also paid to the importance of humanitarian demining in Ukraine, replenishing the fleet of special equipment, training sappers, and conducting surveys of contaminated land.
Svyrydenko raised the issue of preventing trade restrictions for Ukrainian agricultural products and noted that the blocking of grain negatively affects the Ukrainian economy and threatens global food security.
