Ukraine, Finland Sign EUR 50M Loan Agreement For Reconstruction Projects

2024-11-12 07:14:24

(MENAFN- UkrinForm) Ukrainian Finance Minister Sergii Marchenko and Finnish Minister for Foreign Trade and Development Ville Tavio have signed a Framework Agreement for reconstruction and development projects in Ukraine. These projects will be funded under the Finnish-Ukrainian Investment Fund (FUIF).

This is reported by Ukrinform, citing the Ministry of Finance of Ukraine .

Under the Agreement, loans of up to EUR 50 million are planned for 2025. The grant component of the project will amount to at least 35% of the total cost, which will allow for concessional financing terms.

According to the Finnish minister, the primary sectors for investment and reconstruction will include energy, education, infrastructure, digital technologies, and agriculture.

Read also: Forcing Ukraine int o peace set to undermine international system - Finnish F

Additionally, since February 2022, Finland has provided over USD
36 million in direct budgetary support to Ukraine in the form of grant funding. According to data from the Kiel Institute, Finland ranks as the fifth-largest donor to Ukraine based on its GDP share, contributing approximately EUR
2.5 billion, or 0.9% of its GDP.

MENAFN12112024000193011044ID1108879222

Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.