Financing solutions, advice and support - Finland’s national plan supports Ukraine by improving the operating conditions of Finnish companies in the reconstruction of Ukraine

Finland's national plan for the reconstruction of Ukraine will improve the prerequisites for the business operations of Finnish companies in Ukraine. A reconstruction plan based on the Government Programme was published on 21 December 2023.

The first part of the reconstruction plan(Link to another website.), published on 21 December, focuses on the opportunities of Finnish companies to participate and their operational prerequisites, as well as on the types of funding, support and advice Finnish companies can receive for participating in the reconstruction of Ukraine. Based on the Government Programme, the Ministry for Foreign Affairs has prepared a National Plan for Participation in the Reconstruction of Ukraine in close cooperation with other central government and business life.

Finland is strongly committed to supporting Ukraine and its reconstruction. Finland will also participate in supporting Ukraine by creating and improving the prerequisites for the operation of Finnish companies in Ukraine. International companies can influence economic development through their own actions, which is essential for the country's employment, tax revenue and resilience in general. The measures proposed in the plan will improve the operating conditions of Finnish companies in Ukraine. Finland has a wealth of expertise and range of expertise relevant for the needs of Ukraine.

The first part of the plan presents a number of financing solutions that will facilitate such things as market surveys, trade and investment in Ukraine. The most significant practical financing measures include enabling export financing to Ukraine by compensating credit losses incurred by national export credit agency Finnvera. In addition, the capital of national development cooperation fund Finnfund will be increased by EUR 25 million, which will enable investments in the private sector in Ukraine.

The plan also proposes the establishment of a new mixed credit instrument, the Ukraine Investment Facility, which would enable projects worth EUR 50 million in 2025 - 2026. Advisory services for companies will be improved and made more clear and efforts will be made to strengthen the resourcing of the parties providing these services, both in Finland and Ukraine.

"Finland wants to support the participation and access of our companies in the reconstruction of Ukraine. This encompasses investments amounting to hundreds of billions of euros, for which we have an abundance of the required expertise", emphasises Minister for Foreign Trade and Development Ville Tavio.

Finland will continue its unwavering support to Ukraine for as long as needed. From February 2022, Finland’s total assistance to Ukraine amounts to 2,2 billion euros (mostly defence materiel support, development cooperation and humanitarian aid). Finland continues its long-term cooperation with Ukraine on education, energy and the rule of law. Ukraine is Finland’s biggest development cooperation partner.

The second part of the plan will address the participation of central government and stakeholders in reconstruction more extensively and will be completed next year. Its key focus will be on the use of development cooperation and humanitarian appropriations.