• 26/02/2024 16:01

Estonia will allocate an additional 14 million euros per year to Ukraine for development

In addition to the 0.25% of its gross domestic product earmarked for military assistance to Ukraine, Estonia will annually allocate 14 million euros to Kyiv as part of development cooperation. The corresponding indicators are noted in the state budget strategy. This was reported by the national broadcaster ERR.

Estonia will allocate an additional 14 million to Ukraine for development euros per year

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According to the Vice-Chancellor of the Estonian Ministry of Foreign Affairs Mariin Ratnik, from this amount, 12.8 million euros will be allocated for relevant purposes to the Estonian Center for Development Cooperation (ESTDEV), one million euros will be allocated for humanitarian assistance to Ukraine and 200 thousand euros – in support of cooperation with Ukraine for Estonian business.

In the latter case, it is mainly about establishing business contacts with Ukrainian partners, the message says.

This assistance will be allocated taking into account the long-term strategy of Estonia in the field of development cooperation, approved by the government in early January, as well as the principles and plan actions to restore Ukraine.

According to Ratnik, the government also clarified those areas in which the funds allocated by Estonia could be most useful.

“These are the sectors that we ourselves encountered in the past, because we ourselves came from the same society that Ukraine is trying to get out of: reform of the education system, development of the healthcare system, digital and cybernetic. decision,” she said.

Given the start of negotiations on Ukraine’s accession to the EU, Estonia will also be able to share with it its own experience in this process, as well as in receiving and using subsidies from EU funds, added Ratnik.

She also emphasized that post-war costs for the restoration of Ukraine are estimated at 400 billion euros, and such money can only be allocated by large donors such as the World Bank, the International Monetary Fund, the European Bank for Reconstruction and Development, the European investment bank.

“All these institutions do not implement projects themselves, but offer project financing for which you can apply,” Ratnik explained, noting that Estonian companies will also be able to take part in this process.

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minfin.com.ua

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