Additional SEK 100 million to Ukraine via the World Bank

“Ukraine’s need for reconstruction is enormous following Russia’s targeted attacks. Therefore, Sweden is contributing a further SEK 100 million to Ukraine via the World Bank. The railway network has been subjected to many attacks during the Russian aggression. The railway is extremely important for the Ukrainian economy, helping millions of people to be evacuated from the frontlines, providing large parts of the country with goods and vital supplies and helping to export Ukrainian grain. The Ukraine Relief, Recovery, Reconstruction and Reform Trust Fund (URTF) has enabled extensive repair and rebuilding efforts. This is one of many examples of how the money can be used. It is also an important part of the support for the country’s macro-financial stability and for Ukraine’s EU accession. Sweden’s support to Ukraine is increasing and will continue for as long as it is needed.”, says Minister for International Development Cooperation and Foreign Trade Benjamin Dousa.

World Bank President Ajay Banga visited Stockholm on 6–7 March to participate in the meeting with ministers of development assistance and finance from the Nordic and Baltic countries. The emphasis of the meeting was the importance of continued support to Ukraine and a well-functioning multilateral economic cooperation. The World Bank is a significant player in helping countries with their economic development and is the single largest channel for Swedish development assistance. The World Bank has a special role in Ukraine, having mobilised nearly USD 60 billion over the past three years and providing support in various ways, such as broad rebuilding funds, guarantees and other financial instruments. The support aims to enable access to continued basic public services, boost the private sector and help with the reconstruction of Ukraine.

Sweden has contributed a total of SEK 73 billion in civil and military support to Ukraine.