Finland Invests in Ukraine’s Future with Key Development Projects

Written by Jakob A. Overgaard

Jun.29 - 2024 7:34 AM CET

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Finland has announced its participation in three new initiatives to aid Ukraine, focusing on vocational education, air quality monitoring, and infrastructure reconstruction.

These efforts are part of a broader commitment to bolster Ukraine’s resilience and recovery in the wake of ongoing challenges.

As reported by Ukrinform, Finland's support will be channeled through collaborative projects with Ukrainian institutions.

A notable project, spearheaded by the Finnish National Agency for Education and Ukraine's Ministry of Education and Science, aims to enhance the quality of vocational education and training (VET) in Ukraine.

This initiative addresses the country’s critical need for skilled labor and aims to break down barriers to education, ensuring accessibility for all students, particularly vulnerable groups.

The project has secured EUR 2.2 million in funding for the period from 2024 to 2026.

Ville Tavio, Finland's Minister for Foreign Trade and Development, emphasized the importance of improving vocational education for Ukraine’s future.

In addition to educational support, Finland is dedicating EUR 2 million to a project by the Finnish Meteorological Institute and Ukraine's Ministry of Environmental Protection and Natural Resources. This initiative, set to run from 2024 to 2028, aims to enhance air quality monitoring capabilities. The project will align Ukrainian air quality legislation with EU standards and measure the environmental impact of the ongoing conflict.

Furthermore, Finland is contributing EUR 5 million to the EU4U Fund, managed by the European Investment Bank (EIB), to support Ukraine’s infrastructure reconstruction efforts in 2024-2025. The EU4U Fund is designed to improve Ukraine’s financial and social capacity, supporting projects in both the public and private sectors. It focuses on the construction of municipal infrastructure, such as schools, hospitals, and transport networks, as well as enhancing digital and cyber-security capabilities.

This contribution complements Finland’s previous support through the E5P Fund, also managed by the EIB, and the Green Recovery program of the Nordic Environment Finance Corporation (NEFCO).