Finland announces a multi-million aid package for Ukraine and Moldova

Finland allocated 92 million euros to alleviate the consequences of the Russian invasion of Ukraine. The post Finland announces a multi-million aid package for Ukraine and Moldova appeared first on Euromaidan Press.

Oct 10, 2023 - 21:32

Finland announces a multi-million aid package for Ukraine and Moldova

Finland has allocated an additional 92 million euros to support Ukraine and countries affected by Russian aggression, Finland’s Foreign Ministry said on 9 October.

Finland’s support to Ukraine will be used to strengthen basic public services, repair critical infrastructure, promote policy reforms, and lay the foundation for Ukraine’s reconstruction and recovery, according to the statement of the Finnish Foreign Ministry.

The funds will be directed to the Crisis Fund of the International Development Association of the World Bank Group, established in 2023 to expand support for Ukraine, Moldova, and other countries affected by Russian aggression against Ukraine.

“This additional funding demonstrates Finland’s unwavering support for Ukraine in line with the government’s program. We must ensure that critical services are functioning despite the war. We will also support the improvement of food security in the countries affected by the Russian invasion,” the Minister of Foreign Trade and Development of Finland Ville Tavio said.

According to the Finnish Foreign Ministry, 62 million euros will go to the Recovery Support Program for Ukraine and Moldova: 12 million euros in the form of a grant and 50 million euros in the form of a loan. In Ukraine, these funds will be invested in healthcare, transport, energy, agriculture, housing, and social security.

In Moldova, the allocated funds will help to cover the costs of accommodating Ukrainian refugees and crisis preparedness programs. The remaining 30 million euros will be used to provide loans to countries affected by the Russian invasion of Ukraine to help prevent the spread of infectious diseases.

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The post Finland announces a multi-million aid package for Ukraine and Moldova appeared first on Euromaidan Press.