Norway contributes US$22 million to Trust fund to support Ukraine's economy

Norway has contributed NOK 240 million (roughly US$22 million) to the Support to Ukraine's Reconstruction and Economy Trust Fund (SURE TF).

Source: Ukraine’s Economy Ministry

Details: The ministry noted that the Trust fund had been designated as the World Bank's Multilateral Investment Guarantee Agency (MIGA) in February 2023 to provide insurance for investments in Ukraine.

"Private investment will fund the post-war recovery of our country; therefore, ensuring the utmost security for investors' money is essential for us. We would like to thank Norway for its funds allocated to the Support to Ukraine's Reconstruction and Economy Trust Fund.

This will help support individual projects in the real sector that will positively impact the country's economy," said Yuliia Svyrydenko, Ukraine's First Deputy Prime Minister and Economy Minister.

"MIGA has established the SURE Trust Fund to help deploy a bilateral strategy to assist Ukraine in overcoming the effects of the ongoing war. MIGA will provide guarantees in the short term to finance trade and essential commodities and support credits and liquidity for small businesses.

In the longer term, MIGA plans to provide political risk insurance for large-scale projects in the real economy. The Fund aims to meet existing and emerging needs with a commitment to support post-war recovery," the economy ministry added.

Norway's support for the SURE TF is part of Norway's multi-year Nansen support programme for Ukraine and supplements other funding to Ukraine through the World Bank.

Support UP or become our patron!