22 Jun 2023 17:00

Norway allocates 25 mln euros for insurance of investments in Ukraine

MOSCOW. June 22 (Interfax) - Aid to Ukraine is very different from other humanitarian projects and should largely focus on private business development and investment incentives, Norwegian Foreign Minister Anniken Huitfeldt said at the Ukraine Recovery Conference in London.

"When providing the assistance to Ukraine, we must make sure that local businesses will benefit. Therefore, we announced a donation of 25 million euros to provide more insurances and guarantee mechanisms so that companies are willing to invest," she said.

Huitfeldt noted that this is part of a 7 billion euros Norwegian program for Ukraine.

She also highlighted the importance of a sound legal system, the commitment to combat corruption and to burden sharing when it comes to investment risks and emphasized the decentralization reform as a positive factor.