Finland may increase aid to Ukraine in 2024

The Finnish government's proposals for changes to the draft budget for 2024 also include more spending on assistance to Ukraine.

Source: European Pravda, citing the Finnish government

Details: In particular, the Finnish government proposes to increase the upper limit on defence spending for the period 2024-2028 by almost EUR 96 million to cover the purchase of the 19th military assistance package for Ukraine.

For 2024, the allocation will increase by EUR 20.7 million.

Moreover, in the context of preparing a reconstruction plan for Ukraine, the Finnish government has identified financial solutions to facilitate the participation of Finnish companies in reconstruction, for which it is requesting an increase of EUR 25 million in spending on investment and loans in Ukraine.

At the same time, the draft budget amendments propose to authorise the state to provide a guarantee of compensation for losses to cover 80% of the investment cost, up to a maximum of EUR 20 million.

The government also asks the parliament to empower the Ministry of Economic Affairs and Employment to compensate for credit losses on export guarantees issued to promote exports and investment in Ukraine, up to EUR 50 million.

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