Sweden to contribute over 522 mln euros to Ukraine's recovery

MOSCOW. July 24 (Interfax) - The Swedish government has unveiled its Cooperation Strategy for Reconstruction and Reforms in Ukraine between 2023-2027, pledging to provide SEK 6 billion (522.6 million euros) for recovery projects in Ukraine.

This announcement was made by Sweden's Minister for International Cooperation in the Field of Development and Foreign Trade Johan Forssell during an online meeting with Ukrainian First Deputy Prime Minister and Economy Minister Yulia Sviridenko, Ukrainian media said on Saturday, citing the Economy Ministry's website.

"The Swedish government has presented a cooperation strategy for reconstruction and reforms in Ukraine for the period 2023-2027, which will provide 6 billion Swedish kroner for reconstruction projects in Ukraine. This program of bilateral assistance is the largest in terms of funding in Sweden's history, and it is Ukraine that has become its recipient," the ministry said.

"The funds will be spent on rebuilding infrastructure, green development, entrepreneurship, trade, demining, and media. We also welcome the fact that the Swedish government will encourage large companies to enter the Ukrainian market and develop in Ukraine," Sviridenko.

The strategy's budget has been distributed among its implementing agencies: the Swedish International Development Cooperation Agency - SEK 5.7 billion, the Swedish Institute - SEK 225 million, and the Folke Bernadotte Academy - SEK 75 million, the ministry said.

Military risk insurance and cooperation with the Multilateral Investment Guarantee Agency and the U.S. International Development Finance Corporation were discussed separately.

"The Swedish side noted that it was working to resolve the issue of insurance for Swedish companies and guarantees for trade operations, as the Ukrainian market is promising for the development of trade and economic cooperation between the two countries," the Ukrainian ministry said.