Five countries – the UK, Canada, Sweden, Switzerland, the US – will set up the Partnership Fund for a Resilient Ukraine that will start its work by December 2021 and aims to gather up to £35 million between the co-donors over three years.
The initiative was announced by Wendy Morton, the FCDO Minister for the European Neighbourhood.
As noted, the UK, together with Canada, Sweden, Switzerland, and the US, “will support Ukraine to mitigate Russia’s destabilising influence in its southern and eastern regions.”
“It [the Fund] will finance a range of initiatives to increase the resilience of oblasts affected by conflict, such as technical advice to government and grant investments that create economic opportunities and improve people’s access to public services in southern and eastern Ukraine,” reads the statement by the British Embassy.
The diplomats expressed hope that the Fund’s activities would ensure “better quality public services, increased household incomes, and stronger links between communities affected by conflict.”
As a reminder, the day before, the International Monetary Fund allocated $2.7 billion to Ukraine. This is a new allocation that the IMF Executive Board distributed among the countries in proportion to their capital in the IMF.