Business news from Ukraine

Sweden to provide Ukraine with largest military aid package of $1.3 bln

Sweden will provide Ukraine with the 16th and largest military aid package since the start of Russia’s full-scale invasion, the Swedish government’s website reports.

It is noted that the new capabilities will strengthen Ukraine’s air defense. The aid package amounts to 13.3 billion Swedish kronor ($1.3 billion) and meets Ukraine’s priority needs.

Sweden is providing radar reconnaissance and control aircraft (ASC 890) to Ukraine, thereby strengthening Ukraine’s air defense capabilities. Sweden is transferring the entire Swedish fleet of Pansarbandvagn 302 (Pbv 302) to support the creation of new brigades in the Ukrainian army. Sweden will also send artillery ammunition and resources to maintain previously donated equipment.

Since Russia’s brutal offensive war, Sweden has allocated 43.5 billion kronor for military support to Ukraine.

The 16th military support package also includes: financial support for coalitions of capabilities; financial support for funds and initiatives that allow for the rapid and large-scale procurement of equipment for Ukraine. The Swedish Defense Research Agency will also be tasked with supporting Ukraine in establishing its own defense research institute.

As part of this package, the capabilities of Ukraine’s combat command are further strengthened by the transfer of terminals with satellite communications subscriptions.

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

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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From April 24 to May 7, Sweden will host second edition of European Festival: Ukrainian Spring”

From April 24 to May 7, 2024, Sweden will host the European Festival: Ukrainian Spring, which this year will bring together 12 cultural events. Stockholm will host a variety of events that reflect Ukraine’s interaction with the European cultural context in different ways.

The concept of the festival is to present Ukraine as an integral part of the common European cultural heritage. This connection is emphasized by the festival’s slogan: “Reflections in each other’s eyes – Ukraine in Europe and Europe in Ukraine.”

The organizers are convinced that today the ultimate goal of all cultural events dedicated to Ukraine abroad should be to focus public attention on Ukraine’s struggle and victory in the war unleashed by Russia. And the primary task is to once again remind people of the need for increased assistance to protect us from the aggressor.

Therefore, this year, each of the 12 days of the festival will be dedicated to one of the Ukrainian artists who went to defend their country and died at the front.

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Sweden has contributed more than EUR 25 mln to Energy Support Fund of Ukraine and will continue to help

Sweden has contributed EUR25.27 million to the Energy Support Fund of Ukraine, the Ministry of Energy has announced.

“Part of the Swedish contribution has already been paid to provide the necessary assistance to the distribution system operators of the frontline regions of Zaporizhzhia and Mykolaiv, as well as for the needs of the transmission system operator,” the Energy Ministry said in a release following a meeting between its head Herman Halushchenko and Swedish Deputy Prime Minister, Minister of Energy, Business and Industry Abba Bush.

In addition, about EUR 8 million of the Swedish grant is intended to finance the implementation of decentralized renewable energy solutions, including solar panels, batteries, microgrids, and energy efficiency measures for social services and households.

Since March 2022, Ukraine has also received 97 shipments of power equipment from Sweden with a total weight of over 1126 tons, including 222 generators, current and voltage transformers, and other electricity and gas equipment for renewable energy.

“We will continue to help Ukraine in these difficult times of trial by providing assistance to help them recover from the latest hostile attacks. These days, we see Russia using energy as a weapon once again,” Bush said during the meeting, the key topic of which was the continuation of Swedish support for Ukraine in the war against the Russian aggressor, assistance to the Ukrainian energy sector, and strengthening cooperation in nuclear energy and renewable energy.

According to her, the Ukrainian experience in strengthening the resilience and support of the energy system is extremely important and useful for Europe.

According to the Ministry of Energy, the Vice Prime Minister emphasized the minister’s special efforts to maintain contacts with her colleagues, the energy ministers of the EU member states, in developing a policy to strengthen the continent’s energy security.

“The recent attacks on Ukraine’s energy system are a very good indication for us in Europe of how important the stability of the energy system is for the vital activity of our countries. And we are pleased that we are learning from the leadership of Ukraine’s energy sector how to maintain energy system resilience,” Bush emphasized.

“We thank our international partners and Sweden itself for supporting Ukraine’s energy sector with equipment and contributions to the Energy Support Fund. We are assessing the consequences of the recent attacks and will soon compile a list of urgent needs for equipment to carry out restoration work,” Galushchenko said.

As reported by the Ministry of Energy of Ukraine in mid-December 2023, the total amount of sponsors’ commitments to the Energy Support Fund of Ukraine increased to EUR 390 million, with EUR 229 million actually transferred to the Fund’s grid from 18 public and private sector sponsors from different countries.

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Ukrainian Institute in Sweden announces first winners of new award for young Ukrainian pianists

The Ukrainian Institute in Sweden has selected two promising young pianists to receive scholarships from the foundation of Swedish philanthropist Anders Wall.

“We are extremely grateful to Anders Wall for introducing the award for Ukrainian young musicians. As a pianist, I have always understood how important it is to lend a helping hand to young pianists at the beginning of their careers, especially Ukrainian pianists who have always “stuck” to Russian pianists, even repertoire-wise, because there were more opportunities there. Since 2017, when I began to be involved in the Horowitz Young Pianists Competition, I have given two Ukrainian pianists the opportunity to present themselves at various venues in Scandinavia. But this new prize certainly attracts much more attention and offers many more opportunities. Being noticed in the international environment, especially at the beginning of your career, is extremely important,” said Natalia Pasichnyk, director of the Ukrainian Institute in Sweden and concert pianist.

As part of its support for Ukraine, the Anders Wall’s Västerlöfsta Foundation has established an annual award of SEK 100,000 (approximately EUR 10,000) to support young Ukrainian pianists.

The first recipients of the Anders Wall’s Västerlöfsta Scholarship for Young Ukrainian Pianists are 19-year-old Roman Fedyurko from Kyiv and 21-year-old Anton Bondarenko from Zaporizhzhia.

“The purpose of the scholarships is to give promising Ukrainian talents more opportunities for further development in a very difficult time for Ukraine, but it is also a way to draw attention to and support Ukrainian culture. The war is largely about the Russian leadership denying the existence of a Ukrainian nation with its own culture,” said Charlotte Wall, chairman of the Westerlefst Church Music Foundation.

The scholarships will be awarded during a concert at Westerlevsta Church in Hebø on May 4. The concert will be a part of the program of the festival of Ukrainian culture “European Festival: Ukrainian Spring”, which will start in Sweden on April 24 and last for two weeks.

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Roman Fedyurko started studying piano at a music school in Kyiv at the age of five. In 2021, Roman won first prize at the Liszt Center’s online piano competition, the Wiener Klassiker online competition, and the Isidor Badji Piano Competition in Novi Sad, and received a scholarship for young artists from the President of Ukraine. In 2022, Roman won first prize at the Volodymyr Horowitz International Piano Competition.

Anton Bondarenko started studying music at the age of five in the Zaporizhzhia Music School. He became a laureate of several national and international piano competitions among young people, performed with the Zaporizhzhia Symphony Orchestra and the Kyiv State Symphony Orchestra. In 2017, he was awarded the title of “Artist of the Zaporizhzhia Philharmonic”. Anton is currently studying at the Academy of Music in the frontline city of Dnipro.

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Sweden to open trade office in Kiev

The Swedish Export Credit Agency (EKN) has started accepting applications for special credit guarantees for exports to Ukraine since March 1. The total limit of guarantees according to the country’s budget for 2024 is SEK333m ($32.1m at the current exchange rate).
According to EKN, this became possible after the Swedish government adopted a relevant decree on February 29.
In addition to the new export credit guarantees, the government also decided to open a trade secretary’s office in Kiev and appoint a new trade secretary, the press release said.
“The export credit guarantees and the opening of a new trade office in Kiev will make it easier for Swedish companies to invest in Ukraine. It is also a concrete example of how the government is working to increase synergies between aid, trade and business promotion,” the statement quotes the Minister for Development Cooperation and Foreign Trade Johan Forssell as saying.
It is indicated that guarantees will be provided for exports that can contribute to the development and welfare of Ukraine.

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