Norway will provide more than $7 billion to help Ukraine
This amount is designed for 5 years
The Norwegian government said on Monday that it plans to provide a $7.3 billion aid package to Ukraine, as well as additional assistance to other war-affected countries.
The plan is scheduled for five years.
Source. This was reported by the BBC.
"We propose that Norway should make a long-term binding contribution to Ukraine," Prime Minister Jonas Gahr Støre told reporters.
"We expect to allocate 15 billion kroner a year to Ukraine for five years, or 75 billion kroner in total," he added.
Norway's revenues have risen to record levels since Russia's invasion of Ukraine due to a sharp jump in gas prices.
Facing criticism from some countries and the opposition for indirectly profiting from the war, Støre announced a plan to provide multi-year aid to Ukraine late last year, but did not specify the amount of funds available, Reuters reported.
In 2023, half of the aid will be directed to military needs and the rest will be spent on humanitarian aid, but this division may change in the coming years, the prime minister said.
The Norwegian government's initiative must still be supported by the parliament, but Norway's main opposition party has already announced that it will support the initiative.
In 2022, Norway became the largest gas supplier to Europe due to a reduction in Russian gas supplies. It is also Europe's largest oil producer.
Background. As reported, the Norwegian Pension Fund lost almost $300 million due to failed investments in Russian assets.
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