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Finland Allocates €92 Million in Credits and Grants to Support Ukraine and Moldova

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Photo: Finland allocates €92 million in credits and grants to support Ukraine and Moldova. Source: Collage The Gaze\by Leonid Lukashenko
Photo: Finland allocates €92 million in credits and grants to support Ukraine and Moldova. Source: Collage The Gaze\by Leonid Lukashenko

Finland is providing €92 million in credits and grants to the Crisis Fund of the International Development Association (IDA) from funds managed by the Ministry for Foreign Affairs.


"This additional funding demonstrates Finland's unwavering support for Ukraine in line with the Government's program. We will also support improvements in food security in countries affected by Russian aggression," said Minister for Foreign Trade and Development Ville Tavio.


Of the total funds allocated, €62 million will go toward the support program for the recovery of Ukraine and Moldova. This includes €12 million as a grant and €50 million as a credit.


Furthermore, Finland will provide €30 million in credits to countries affected by Russian aggression to help prevent the spread of infectious diseases.


Finland's support for Ukraine, channelled through the World Bank Group, will be used to strengthen essential public services, repair critical infrastructure, advance political reforms, and lay the foundation for Ukraine's reconstruction and recovery.


The special recovery program for Ukraine and Moldova aims to address needs in the areas of healthcare, transportation, energy, agriculture, housing construction, and social security. 


This funding will help improve access to healthcare services, modernize healthcare delivery, enhance energy accessibility to address acute energy shortages, repair vital road and rail networks, support housing construction, and sustain agricultural activity.


Additionally, this will expedite long-term efforts to support Ukraine's recovery and reconstruction of critical sectors, with particular attention given to the rights of women, girls, and persons with disabilities.


"We must ensure the functioning of critical services despite the war," Minister Tavio stated.


In Moldova, the Crisis Financial Program of the IDA will primarily help cover the costs of receiving people fleeing from Ukraine and will finance development and crisis preparedness programs that support Moldova's economic and social recovery.

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