Today at 21:44
he Swedish government has approved more than SEK 1.4 billion (€126 million) to support a new World Bank crisis mechanism aimed at helping Ukraine’s recovery and maintaining essential public services, UATV English reports.
According to the Swedish government, the funding will be provided through the World Bank’s Special Program for Ukraine Recovery 2.0 under the International Development Association’s (IDA) Crisis Facility 2.0.
“Ukraine’s resilience cannot be taken for granted. Ukraine needs substantial support to continue paying healthcare workers and keeping its electricity grid operational. Ukraine is defending not only its own freedom, but ours as well,” Swedish Minister for Foreign Trade and International Development Cooperation Benjamin Dousa said.
The Swedish contribution is expected to enable the World Bank to provide approximately SEK 4.2 billion (€380 million) in new loans for Ukraine’s reconstruction and recovery efforts.
The funding complements a previous Swedish guarantee announced on May 29, which enabled the World Bank to extend an additional SEK 2.5 billion (€226 million) in loans to Ukraine.
The latest assistance comes after Sweden also increased its contribution to the Ukraine Energy Support Fund, bringing its total contribution to more than €386 million.
