Norway Will Fund Pensions and Salaries in Ukraine: How Much Will the Budget Receive? - LIGA.net
By Google News Personal Finance ·
Norway is allocating 500 million Norwegian kroner (about $53 million) to Ukraine's national budget through the World Bank.
See alsoThe NBU explained why the hryvnia is weakening: rising budget expenditures and Russian shellingThese funds will help maintain essential government services and ensure the payment of salaries, pensions, and social assistance to the public sector in early 2027, according to the website the Norwegian government."Ukraine's resilience also depends on whether it can maintain normal daily life, even in the face of a
protracted war.
Norway is helping to ensure that children can go to school, hospitals can treat patients, and retirees can receive their pensions," said Foreign Minister Espen Bart Eide following a meeting with Ukraine’s foreign minister.
Andriy Sybiga in Warsaw on November 6.This assistance will also help meet funding needs at the end of the year and marks Norway’s first contribution to Ukraine’s state budget for 2027.The government's statement emphasizes that Norway's support strengthens Ukraine's position in any future negotiations with Russia, and that previously Norway also provided assistance in meeting the urgent financial needs of Ukraine's
state budget.Funding is provided through a multilateral donor trust fund of the World Bank, which reimburses verified expenditures on salaries, pensions, and social benefits in the civilian sector, particularly in the areas of health care, education, and emergency services.In August, the Norwegian government announced plans to provide Ukraine with assistance in fiscal year 2027, just as it did this year, 85 billion
Norwegian kroner ($9.2 billion) in financial support.
The bulk of the funds will continue to be allocated to military support, particularly for purchases from the Ukrainian…
Originally published by Google News Personal Finance
