Today, on 12 November, Minister of Finance of Ukraine Sergii Marchenko and Minister for Foreign Trade and Development of Finland Ville Tavio signed a Framework Agreement between the Government of Ukraine and the Government of the Republic of Finland on projects financed under the Finland-Ukraine Investment Facility (FUIF).

Under the Agreement, loans of up to EUR 50 million are planned for 2025. Further implementation of the Programme will involve the conclusion of relevant loan agreements to determine the amount, terms and conditions of the loans.

The grant component of the project will amount to at least 35% of the total cost, which will allow for concessional financing terms.

Sergii Marchenko thanked the Government and citizens of Finland for their steadfast support of Ukraine and comprehensive assistance since the first days of the full-scale invasion: “Finland is a reliable partner and true friend of Ukraine. The military, humanitarian and financial support provided by the Finnish government significantly helps us to secure the necessary resources for the country in times of war. I am convinced that the signing of the Agreement is a significant contribution to the further strengthening of the Ukrainian-Finnish partnership.”

Since February 2022, Finland’s direct budget support to Ukraine has reached over USD 36 million in grant funding. According to the Kiel Institute for the World Economy, Finland is the fifth largest donor of military, humanitarian and financial assistance to Ukraine in terms of its GDP share, amounting to about EUR 2.5 billion or 0.9% of GDP.

The parties also discussed the current development programmes and support for Ukraine’s reconstruction with the assistance of Finland.

Sergii Marchenko noted the importance of cooperation between Ukraine’s donor countries within the Ukraine Donor Platform. During the ninth Steering Committee meeting in April 2024, Finland joined the Platform as an observer.

Minister Ville Tavio said that the main sectors for investment and reconstruction that Finland plans to engage in are energy, education, infrastructure, as well as digital technologies and agriculture.