Norwegian Prime Minister Jonas Gahr Stere has proposed that his country provide about 75 billion crowns ($7.3 billion) in aid to Ukraine over five years.
This is the biggest aid program Norway has ever had,” he said at a press conference in Oslo.
According to the premier, quoted by DW, in 2023, half of the aid will go to the military and the rest will go to humanitarian needs, although this distribution may change in the coming years. The money will be distributed in accordance with the priorities of the Ukrainian government and will not necessarily be transferred directly to the authorities. Humanitarian assistance will be provided to organizations “with the most experience in providing humanitarian assistance”, while military assistance will be coordinated with the US and European allies to “avoid bottlenecks.”
The increase in aid to Ukraine will be financed from “oil money”. The Stere government must obtain parliamentary approval to disburse the funds, which will increase the annual spending of Norway’s sovereign wealth fund, the world’s largest at around $1.4 trillion. The main opposition Conservative Party has generally supported the plan, subject to final negotiations in the coming weeks.
We are grateful to the Norwegian people, the Government of Norway and personally Prime Minister of Norway Jonas Gahr Stere for announcing a new unprecedented five-year aid package for Ukraine in the amount of NOK 75 billion. This is a significant contribution to our upcoming victory over the aggressor and successful post-war reconstruction,” President of Ukraine Volodymyr Zelenskyy wrote on Twitter.
How they help Ukraine with money
For 2023, the EU has decided to provide Ukraine with 18 billion euros of macro-financial assistance. Ukraine has already received the first tranche in the amount of three billion euros in January. The next payments will be made monthly in the amount of 1.5 billion euros and will depend on progress in meeting the agreed conditions. The memorandum, signed on January 16 between Ukraine and the EU, contains 20 points in four blocks, the allocation of the second and subsequent tranche will depend on the progress in the implementation of which.
At the end of 2022, Prime Minister of Ukraine Denis Shmihal announced that in 10 months after the start of the war, Kyiv managed to attract more than $31 billion. from partners. In 2023, the Ministry of Economy expects to receive at least $20 billion from the state budget. direct macro-financial support It is from this amount that the macro forecast was built with the growth of gross domestic product (GDP) by 3.2%.
Source: Racurs
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.