Finland presents plan for post-war Ukraine's reconstruction
Photo: Minister of Foreign Trade and Development Ville Tavio (facebook.com/tavio.ville)
Finland today, on December 21, presented the first part of the national plan for the country's participation in the reconstruction and post-war recovery of Ukraine, according to the press service of the Ministry of Foreign Affairs of Finland.
The document released on Thursday is dedicated to the possibilities of Finnish companies' participation and the conditions for their activities, as well as the types of financing, support, and consultations that Finnish companies can receive for participating in the reconstruction of Ukraine.
The relevant plan was prepared by the Finnish Ministry of Foreign Affairs based on the government program in close cooperation with other central authorities and businesses.
In a statement from the foreign policy department, it is noted that Finland intends to support Ukraine and its reconstruction, including by creating and improving conditions for the work of Finnish companies in our country.
Details of the document
The first part of the plan presents a series of financial decisions that will contribute to market research, trade, and investment in Ukraine.
"The most significant practical financing measures include enabling export financing to Ukraine by compensating credit losses incurred by national export credit agency Finnvera," the department said.
In addition, the capital of the national cooperation development fund Finnfund will be increased by 25 million euros, allowing "investments in the private sector of Ukraine."
The plan also includes a proposal to create a new blended credit instrument - the Ukrainian Investment Fund, which will allow the implementation of projects worth 50 million euros in 2025-2026.
The Finnish Ministry of Foreign Affairs explains that advisory services for companies will be improved and made more understandable, and efforts will be made to strengthen the resource base of the parties providing these services in Finland and Ukraine.
According to the Minister of Foreign Trade and Development Ville Tavio, Finland wants to support the participation and access of domestic companies to the reconstruction of Ukraine.
"This encompasses investments amounting to hundreds of billions of euros, for which we have an abundance of the required expertise", he emphasized.
Work on the second part of the plan
The ministry also revealed that the second part of the plan will be dedicated to the broader participation of the central government and stakeholders in the recovery. They intend to complete it next year.
The main focus will be on utilizing cooperation for development and humanitarian allocations.
Finland's assistance to Ukraine
The Ministry of Foreign Affairs of Finland confirmed the country's intention to continue supporting Ukraine "as much as needed." According to the department's information, from February 2022, the total amount of assistance will be 2.2 billion euros. This primarily involves support for military equipment, cooperation for development, and humanitarian aid.
Finland also continues its long-term cooperation with Ukraine in the fields of education, energy, and the rule of law.
Earlier today, the Ministry of Defense of Finland announced the provision of additional military assistance to Ukraine and shared details about the 21st delivery.
