Sweden Becomes the First EU Member to Provide Ukraine with Additional Financial Support via Ukraine Facility Program
Amid ongoing efforts to bolster Ukraine’s economic stability and resilience against Russian aggression, Sweden has taken a historic step by becoming the first European Union member to allocate supplementary financial assistance to Kyiv under the specialized Ukraine Facility initiative.
Swedish Minister for Development Cooperation and External Trade, Benjamin Dousa, announced that his country has committed 750 million Swedish kronor, approximately 66.4 million euros, for Ukraine’s support.
This move highlights Sweden’s strong commitment to assisting Ukraine during these turbulent times, aiming to reinforce the country’s economic foundation and enhance its defenses.
According to Dousa, such aid is crucial for maintaining the stability of Ukraine’s budget, funding vital social services, including healthcare, education, and pensions, as well as strengthening its capacity to resist ongoing military threats.
The Ukraine Facility is an EU financial mechanism designed to aid Ukraine’s recovery, modernization, and economic stabilization, contingent upon the implementation of pre-agreed reforms.
Previously, the European Council approved a new tranche of financial aid totaling over 3 billion euros for Ukraine under the Ukraine Facility program, although the initial planned amount was 4.5 billion euros, which was reduced due to Ukraine’s incomplete implementation of reforms in decentralization, the Authority for Recovery and Managed Assets (ARMA), and judicial appointments to the High Anti-Corruption Court (VAKS).
This continued support plays a vital role in ensuring Ukraine’s economic resilience and progress toward further reforms and European integration.