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Finland will allocate an additional €62 million to support Ukraine and countries affected by Russian aggression. As reported by “INFOTAG,” this announcement comes from the Finnish Ministry of Foreign Affairs.
The funds provided by Finland will be directed to the Crisis Fund of the International Development Association (IDA) of the World Bank Group, established earlier this year, to expand support for Ukraine, Moldova, and other countries affected by Russia’s aggression against Ukraine.
According to the source, €62 million will go towards the Support Program for the Recovery of Ukraine and the Republic of Moldova: €12 million in the form of a grant and €50 million in the form of credit. In Ukraine, these funds will be used to address needs in healthcare, transportation, energy, agriculture, housing, and social security.
In Moldova, the IDA Crisis Fund will primarily contribute to covering the accommodation costs of Ukrainian refugees, as well as funding development programs and crisis response efforts supporting the economic and social recovery of the country.
“This additional funding demonstrates Finland’s unwavering support for Ukraine, in line with the government program. We will also support improving food security in the countries affected by the Russian invasion. We must ensure the functioning of essential services despite the war,” said Ville Tavio, the Finnish Minister for Foreign Trade and Development.