Business news from Ukraine

Sweden to create EUR6.5 bln military support program for Ukraine

22 May , 2024  

The Swedish government intends to provide long-term support to Ukraine through a three-year military support program (2024-2026) totaling SEK 75 billion (EUR 6.5 billion), the Swedish government website reports.

“In order to strengthen Swedish support for Ukraine, as well as to strengthen the long-term perspective, the government and the Sweden Democrats agree to introduce a military support program for Ukraine for 2024-2026. Sweden will increase its support, and its volume will amount to SEK 75 billion in military support for 2024-2026, SEK 25 billion per year,” the statement said.

It is noted that Sweden’s total military and civilian support for Ukraine, taking into account this proposal, will amount to more than SEK 100 billion. Military support within Ukraine can, for example, take the form of free transfer of defense equipment, financial contributions and financial support for the purchase of defense equipment.

The government also noted that, depending on the type of support used, the program’s framework could burden public finances for several years and even beyond 2026.

Following the Russian invasion in February 2022, Sweden has allocated the equivalent of SEK 37 billion for various efforts to support Ukraine. In particular, through 15 military support packages totaling about SEK 30 billion, and that Ukraine is now the largest country where Swedish aid is directed.

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