The Netherlands is allocating EUR 102 million for the third support package of assistance to Ukraine in 2023. This money is intended for investment, recovery and reform implementation, according to the press service of the Dutch government.
“Of this additional contribution, EUR 60 million will go to supporting Dutch companies that want to contribute to the reconstruction of the country. This money is intended for export credit insurance to cover payment risks of investments and transactions in the country. To help Ukraine prepare for the winter, EUR 30 million will also be spent on purchasing gas and supplying parts for the power grid. The remaining EUR 12 million goes to support recently liberated areas and to the IMF, which provides technical assistance to Ukraine to implement reforms,” it said.
It is expected that Russia will also attack the energy infrastructure this winter. To help the country prepare for the coming months, the Netherlands is earmarking EUR 20 million for the purchase of gas and the creation of strategic gas reserves through the European Bank for Reconstruction and Development. In addition, EUR 10 million euros will go to supplies of, among other things, transformers, switching components and cables that are needed to restore the power grid.
Export credit insurance for Ukraine therefore provides cover for investments and transactions by Dutch companies with risks that are not covered by commercial insurers. This makes it more accessible for entrepreneurs to export to and invest in Ukraine and thus contribute to the reconstruction, the government said.
Ukraine has an interest in financial and economic stability and strong institutions to keep the economy running and to survive the war. That is why Ukraine has had an IMF program with an extensive reform agenda since the spring. The Netherlands contributes EUR 7 million to the IMF fund, which provides technical assistance to the country and supports Ukraine in implementing the reform agenda. This agenda aims to improve financial stability and economic recovery and ensure stronger institutions.
The Netherlands will also contribute EUR 5 million to the Partnership Fund for Resilient Ukraine. The fund focuses on strengthening decentralized authorities and rapid recovery after liberation from Russian occupation. This includes repairs to drinking water, electricity, primary health services and education.
Economy Minister of Ukraine Yulia Svyrydenko in a phone conversation with Dutch Minister for Foreign Trade and Development Cooperation Liesje Schreinemacher thanked the Netherlands for assistance.
“I would like to thank the Kingdom of the Netherlands for its consistent support of Ukraine and its European choice, the introduction of sanctions against Russia and the provision of military, financial and humanitarian assistance to our country,” the Ukrainian minister said, commenting on the allocation of the new assistance package.
During the conversation, Schreinemacher confirmed that the Netherlands is also considering the possibility of taking part in humanitarian demining in Ukraine.