The funding aims to support Ukraine's ongoing assistance, renovation, reconstruction, and reform efforts.
Announcement at IMF and World Bank Meetings
The commitment was announced during the 2024 annual meetings of the International Monetary Fund (IMF) and the World Bank Group. Norway's Minister of International Development, Anne Beathe Kristiansen Tvinnereim, met with Ukraine's Minister of Finance, Serhiy Marchenko, to discuss the additional support.
"Today, during the urgent meeting of the IMF and the World Bank Group, I spoke with Ukraine's Minister of Finance, Serhiy Marchenko, and promised to contribute an additional 500 million Norwegian kroner to the URTF fund," stated Minister Tvinnereim, as reported on the Norwegian government's website on October 24.
Supporting Ukraine's Energy Infrastructure
The additional funding will bolster projects like NEC Ukrenergo's efforts to restore Ukraine's energy infrastructure. Ukrenergo recently received the first large autotransformer for a 750 kV substation under the REPower project, financed by a $247 million grant from the URTF. Over the next few months, at least 20 more transformers are expected to be supplied through further World Bank funding.
"Before winter, it is important to provide the people of Ukraine with electricity and heat. That's why we recently announced the provision of 3 billion Norwegian kroner, which, among other things, will supply electricity to up to 1.5 million people and industries in Ukraine, as well as other assistance to help those affected by the war survive the winter," said Minister Tvinnereim.
Extension of the Nansen Support Program
Norway has also decided to extend the Nansen Support Program for Ukraine until 2030 and increase its international funding from 75 billion to 135 billion Norwegian kroner over this period.
"My main message to our friends was that Norway will support Ukraine for as long as necessary. This serves the interests of both Ukraine and Norway, and the Nansen long-term program reflects this commitment," Minister Tvinnereim emphasized.
About the Nansen Support Program
The Nansen Support Program for Ukraine provides:
- Military Support
- Humanitarian Assistance
- Funding for Civil Infrastructure and Critical Hospital Functions
- Resources for Reconstruction Efforts when feasible
Since Russia's large-scale invasion of Ukraine at the end of 2022, Norway has contributed 52.6 billion Norwegian kroner to Ukraine, with approximately 28 billion NOK allocated for military support and 24 billion NOK for civilian support.
