• Українською
  • Norway plans to allocate NOK 250 million for Norfund's investments in Ukraine
    Ministry of Economy of Ukraine, posted 04 October 2024 11:52

    The Norwegian Government has authorized Norfund to invest in Ukraine. The funds will be allocated under the Nansen Support Program in Ukraine.

    The Norwegian government has authorized Norfund, the Norwegian Investment Fund for Developing Countries, to invest in Ukraine. The capital provided by Norfund will help reduce risks for companies investing in Ukraine, including Norwegian companies.

    In 2024, the Government of Norway intends to allocate about NOK 250 million for Norfund's investments in Ukraine. The funding will be allocated under the Nansen Support Program for Ukraine. The Government also plans to continue this initiative in the coming years.

    “Attracting private capital is essential to support reconstruction and recovery projects. I am grateful to the Government of Norway for this decision, which not only paves the way for Norfund's investment, but also supports the efforts of the Ministry of Economy in implementing the overall strategy to attract public and private investment of up to EUR 40 billion in cooperation with international financial organizations and development agencies,” said Yuliia Svyrydenko, First Deputy Prime Minister of Ukraine and Minister of Economy of Ukraine.

    Norfund provides equity investments, which involve higher risks than loans and guarantees offered by development agencies and multilateral banks. As an investment fund, Norfund also works to create jobs and support the green transition by investing in companies contributing to sustainable growth.

    According to Norway's Minister of International Development, Anne Beathe Kristiansen Tvinnereim, Norfund has experience in high-risk markets, so it will be an important tool for attracting private sector investment in recovery projects. In particular, it will also help to reduce the gap between Ukraine's urgent reconstruction needs and the amount of available funding.

    Background Information

    The Nansen Support Program for Ukraine is a Norwegian civilian and military support program worth NOK 75 billion for the period 2023-2027. The distribution between civilian and military support is determined annually in accordance with Ukraine's needs. In 2023, approximately NOK 19.9 billion of the Nansen support program was distributed: NOK 8.9 billion in civilian and humanitarian support and NOK 11 billion in military support.