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Finland proposes new $55mln Ukraine reconstruction plan for 2025-2026 Ukraine
Photo Courtesy: UNI

Finland proposes new $55mln Ukraine reconstruction plan for 2025-2026

India Blooms News Service | @indiablooms | 23 Dec 2023, 02:22 am

Helsinki: The Finnish Foreign Ministry on Thursday published the first part of the reconstruction plan for Ukraine that proposes a new mixed credit instrument to enable projects worth 50 million euros ($55 million) in 2025-2026.

"The plan also proposes the establishment of a new mixed credit instrument, the Ukraine Investment Facility, which would enable projects worth EUR 50 million in 2025 - 2026," the ministry said in a statement on the website.

The first of the plan includes several financing solutions, which will be aimed at market surveys, trade and investment in Ukraine, the ministry said, adding that "the most significant practical financing measures include enabling export financing to Ukraine by compensating credit losses incurred by national export credit agency Finnvera."

Helsinki will also increase the capital of national development cooperation fund Finnfund by 25 million euros to enable investments in Ukraine's private sector.

The second part of the plan, which will address the participation of central government and stakeholders in reconstruction more extensively, will be completed in 2024, the ministry said.

(With UNI/SPUTNIK inputs)

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