Five Countries Launch Joint International Fund to Help Ukraine

Deputy Prime Minister, Minister for Reintegration of the Temporarily Occupied Territories of Ukraine Iryna Vereshchuk and representatives of Great Britain, Canada, Sweden, Switzerland, and the United States signed a memorandum on launching the Partnership Fund for a Resilient Ukraine to help communities affected by Russian aggression.

At the start, the Fund’s budget will be GBP 35 million (USD 47 million) for the implementation of the first projects “aimed at communities, at real people in need of support from the state and the international community.”

According to the Ukrainian minister, the fund is designed to make the communities of the Donetsk and Luhansk regions more sustainable as these communities are currently heavily subsidised and have a weak investment climate.

The Fund’s assistance should improve the quality of public services, increase household incomes, and strengthen ties between communities divided by conflict.

Ambassador of the United Kingdom to Ukraine Melinda Simmons noted that the partners, together with the Government of Ukraine, were committed to supporting the victims of Russian aggression in eastern Ukraine through this Fund. She added that her country would contribute GBP 11.5 million (USD 14.8 million) to the Fund over three years.

The United States intends to increase its contribution to the Fund from USD 5 million to USD 10 million through USAID.

Canada will donate between CAD 10 million and 15 million (up to USD 12 million) to curb the escalation.

Sweden will contribute SEK 50 million (USD 5.4 million) to the Fund.

Bohdan Marusyak