Finland to provide up to 50 mln euros to finance projects in Ukraine in 2025

MOSCOW. Nov 13 (Interfax) - The Ukrainian and Finnish governments have concluded a framework agreement under which Finland would provide up to 50 million euros in 2025 to finance projects under the Finnish-Ukrainian Investment Fund (FUIF), Ukrainian media reported with reference to the Finance Ministry's statement.

"Under the agreement, loans of up to 50 million euros are planned for 2025. Further implementation of the Program will involve the conclusion of relevant loan agreements to determine the amount, terms and conditions of the loans," the ministry said.

The agreement was signed between Ukrainian Finance Minister Sergei Marchenko and Finnish Foreign Trade and Development Minister Ville Tavio.

The grant component of the project will make up at least 35% of the total cost, which would allow for concessional financing terms, it said.

The ministers also discussed the current programs for Ukraine's development and reconstruction support with Finland's assistance. Marchenko mentioned the importance of cooperation within the Ukraine Donor Platform, whose Steering Committee Finland joined as an observer in April 2024.

Tavio listed energy, education, infrastructure, digital technology, and agriculture as the sectors that Finland views as the most promising ones for investment and reconstruction.

Finland's direct budget support since February 2022 has amounted to over $36 million in grant financing, the ministry said.