Ukraine and Sweden discuss the economic recovery programme and investment protection mechanisms
31.10.2024 | 08:46 | Section for Public and Mass Media RelationsUkraine and Sweden will strengthen economic cooperation to restore the country and attract investments in priority industries and the private sector. They will work on mechanisms to protect investors, including through war risk insurance. These issues were discussed at a bilateral meeting of the Ministry of Economy of Ukraine with representatives of the Riksdag of Sweden and the Embassy of the Kingdom of Sweden in Ukraine.
“We thank the Swedish partners for their systematic support and participation in the programmes to restore Ukraine. We hope to expand cooperation to attract private capital and create joint Ukrainian-Swedish companies. This will help restore infrastructure and create new jobs, and therefore return Ukrainians from abroad,” First Deputy Minister of Economy Oleksii Sobolev said.
Particular attention was paid to the issues of investment and commodity insurance. Ukraine invited Swedish partners to share their experience in the field of risk assessment to attract international reinsurers.
In addition, they discussed the expansion of special export credit guarantees that encourage Swedish companies to work in the Ukrainian market. The Swedish government has already allocated $32 million to provide such guarantees, which will facilitate bilateral trade. The Ukrainian side proposed to extend the term of credit guarantees, which will strengthen cooperation between businesses and help attract investments for a longer period.
The parties also discussed investments in critical materials. Sweden is ready to provide assistance in retraining personnel, in particular women and veterans, in restoring destroyed infrastructure and vital energy sources.
The Ukrainian side asked partners from Sweden to share experience and technical support in implementing projects related to green energy and decentralized energy supply. This is important within the framework of the green transition and the adoption of the National Energy and Climate Plan by Ukraine.
Sweden has already allocated about 5 billion euros for military, humanitarian and civilian assistance to Ukraine. The meeting discussed Sweden’s participation in international initiatives for the reconstruction of Ukraine, in particular the Warsaw “ReBuild Ukraine” Conference and the upcoming Ukraine Reconstruction Conference (URC2025) in Rome.
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