Feb 6, 2023
Norway’s Leader Proposes $7.3 Billion for War-Scarred Ukraine
(Bloomberg) -- Norway is considering spending 75 billion kroner ($7.3 billion) over the next five years on assistance for Ukraine, ravaged by the Russian invasion.
Prime Minister Jonas Gahr Store discussed a plan with party leaders to grant 15 billion kroner a year for military and civilian support, he said in a statement to Bloomberg after meeting with other party leaders on Monday. The funds will be used in a flexible manner, in line with Ukraine’s needs, he said.
The pledge follows a push from European officials for Norway to share its windfall export gains from higher gas prices. The International Monetary Fund is also exploring a multiyear aid package for Ukraine worth as much as $16 billion to help cover the country’s needs and provide a catalyst for more international funding.
“The long-term nature of the commitment is important. It will demonstrate to the Ukrainians our willingness to support them over time,” the Norwegian prime minister said. “It’s also in our interest to defend the basic tenets of international law and security in Europe.”
Gahr Store oversees a minority cabinet, and must therefore secure backing for his plan from other parliamentary parties. The government’s budget partner, the Socialist Left, is prepared to support the package, leader Audun Lysbakken said in an interview. Erna Solberg, former prime minister and leader of the Conservatives, also said in an interview her party viewed the plan positively.
Dagens Naeringsliv reported the amount earlier.
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