The Swedish business sector’s role in Ukraine’s economic recovery
Updated
Trade and the private and business sectors’ engagement in Ukraine are crucial to the country’s reconstruction, development, path towards EU accession, and resilience against Russia’s war. By upholding economic ties and business relations with Ukraine, Swedish businesses are helping the Ukrainian economy to keep going. The reconstruction of infrastructure, hospitals, housing and other buildings is vital, and private investments and companies can play a key role here. Swedish businesses are well positioned to take part in this process by offering sustainable, modern and high-quality solutions.
The Government’s reform agenda for development assistance aims to reinforce synergies between trade, development assistance and business sector support. The Government’s work to support Ukraine includes concrete examples of synergies between these areas. To promote economic development in Ukraine and engage the Swedish business sector, the Swedish Government is acting on several levels:
- Policy work at EU level to support and simplify the EU’s trade with Ukraine.
- Swedish development assistance that promotes the development of the private sector in Ukraine.
- Initiatives that support Swedish companies’ engagement in Ukraine: since 2024, there has been a trade office in Kyiv to guide Swedish companies. As of 2024, Swedish companies may also apply to the Swedish Export Credit Agency for export credit guarantees related to business with Ukraine. The Team Sweden Ukraine contact group, consisting of the Ministry for Foreign Affairs, other ministries, Business Sweden, the Swedish Export Credit Agency, Swedfund, the Chamber of Commerce, the Swedish Institute, Sida and several other Swedish actors, meet regularly to coordinate support to the Swedish business sector’s participation in Ukraine’s reconstruction.
How Swedish businesses can contribute to Ukraine’s reconstruction
Swedish companies can contribute to the reconstruction of Ukraine in several ways:
- Procurement: Swedish companies can take part in procurement processes conducted by international organisations and banks, such as the United Nations, the World Bank, the European Bank for Reconstruction and Development (EBRD), the European Investment Bank and the Nordic Investment Bank, the Nordic Environment Finance Corporation and the Ukrainian procurement authority Prozorro.
- Business sector participation: Swedish companies can take part in international markets such as ‘Rebuild Ukraine’, to showcase their products and services and find Ukrainian and international partners.
- Investment: Swedish companies can invest in Ukraine, which supports the country’s economic development and reconstruction, as well as seek funding solutions with international and Nordic financial institutions.
Export credit guarantees: Swedish companies can apply for export credit guarantees concerning exports of essential goods and services to Ukraine at the Swedish Export Credit Agency. - Small and medium-sized enterprises that hope to establish or expand their business in Ukraine can receive financial and strategic support through the Swedfund Business Accelerator. - external website,
- Imports: Swedish businesses can import Ukrainian goods and services, thus helping to support Ukraine’s economy and resilience.
- Project support: Swedish companies can apply for project funding at the Swedish Institute, in order to conduct projects together with Ukrainian cooperation partners that help with Ukraine’s reconstruction, reform efforts and EU integration.
- Donations: companies that wish to donate equipment or materials to Ukraine can receive support for coordination and transport from the Swedish Civil Defence and Resilience Agency.
Support through EU trade policy
Shortly after Russia’s full-scale invasion began, the EU adopted temporary trade facilitation measures for Ukraine, which were extended by an additional year until June 2025. During the latter half of 2025, the EU and Ukraine negotiated and updated their joint Deep and Comprehensive Free Trade Agreement (DCFTA). The updated Agreement means that the EU and Ukraine provide each other with additional market access for product categories that were not already fully liberalised under the currently applicable DCFTA. This trade facilitation has entailed great benefits for the Ukrainian economy – exports to the EU have increased within several sectors.
Team Sweden Ukraine’s Swedish actors – supporting the Swedish business sector’s engagement
Business Sweden
With a trade office and staff based in Kyiv, Business Sweden helps Swedish companies to identify business opportunities in Ukraine. Business Sweden disseminates information on procurements and offers practical support and strategic guidance to contribute towards Ukraine’s reconstruction and development.
Ukraine - Business Sweden - external website,
Welcome to Business Sweden Ukraine - external website,
Swedish Export Credit Agency
To minimise risks for Swedish companies investing in Ukraine, the Government has introduced special export credit guarantees for Ukraine. SEK 1 776 million is being set aside this year to cover possible losses for export companies during the guarantee period 2026–2035. Companies have been able to apply for guarantees at the Swedish Export Credit Agency since 1 April 2024.
Memorandum: Special export credit guarantees for Ukraine (in Swedish)
Swedfund
Swedfund works to support Ukraine through investments in the development of sustainable businesses. Swedfund also works on technical feasibility studies to develop sustainable projects in Ukraine, thus facilitating business opportunities for Swedish companies that provide solutions within the framework of these projects.
Swedish Civil Defence and Resilience Agency
The Swedish Civil Defence and Resilience Agency supports Ukraine in the form of deployed personnel and through donations of materiel and equipment. The support is provided through various UN agencies, the European Union Advisory Mission, the Organization for Security and Co-operation in Europe (OSCE) and the EU Civil Protection Mechanism. The Swedish Civil Defence and Resilience Agency coordinates and transports donations of materiel to provide assistance to critical sectors, including the energy sector, emergency services, water, school buses, mine action, infrastructure for roads and railways, medical care equipment and medicines.
Swedish Civil Defence and Resilience Agency's support to Ukraine - external website,
The Swedish Institute
Among other initiatives, the Swedish Institute works to support Ukraine through the Swedish Institute Ukraine Cooperation Programme. The Programme invites Swedish actors and their cooperation partners in Ukraine to apply for project funding in order to carry out projects together that help with Ukraine’s reconstruction, reform work and EU integration. Programme applications highlight initiatives that focus on innovation systems, gender equality, and transparency and anti-corruption.
SI Ukraine Cooperation Programme – The Swedish Institute - external website,
