Norway to Allocate Over $7 Billion to Ukraine

Half of the funds will be used for the defense of Ukraine, and the other half - for civilian assistance, explained the Norwegian Prime Minister. The authorities of Norway plan to allocate to Ukraine a financial aid of 75 billion Norwegian kroner (about $7.3 billion) for the period of five years. This was reported by the Norwegian national television company NRK on Monday, February 6. As stated, Prime Minister Jonas Gahr Støre and Finance Minister Trygve Slagsvold Vedum announced an aid package for Ukraine at today’s meeting with faction leaders in the Norwegian parliament, the Storting. “We propose to allocate to Ukraine 15 billion Norwegian kroner (more than $1.4 - ed.) annually over five years. This is 75 billion ($7.3 billion - ed.). There is a proposal that this year 50% will be spent on Ukraine's defense, i.e. military aid, and 50% on civilian aid,” Støre said. Prime Minister hopes to reach agreement on the aid package by February 24, the anniversary of Russia’s full-scale invasion of Ukraine. Earlier it was reported that the Norwegian authorities haв prepared a comprehensive plan of long-term support for Ukraine, which will last for five years. It was also reported that Norway’s largest sovereign fund in the world will increase spending on aid to Ukraine.