Call for proposals: Norway Contributes to Strengthening the Business Sector in Ukraine with 30 Million Kroner
- Without private sector, society comes to a halt. Russia’s war has led to significant economic consequences for Ukraine. By supporting private sector development, we are also supporting Ukraine’s economy and resilience, says Norwegian Minister of Foreign Affairs Espen Barth Eide.
Through the Nansen Program for Ukraine, Norway is now announcing a grant of 30 million kroner for private sector that want to invest in Ukraine. Russia’s warfare and massive attacks on civilian infrastructure have severely impacted Ukraine’s economy. The country experienced a 30 percent decline in gross national product (GNP) in 2022. Although there are examples of companies making investments, the overall picture is that there is a lack of investment.
Norwegian Minister of Foreign Affairs Espen Barth Eide met with Ukraine's Deputy Energy Minister Mykola Kolisnyk in April. Photo: Ane Haavardsdatter Lunde / Utenriksdepartementet
- To keep the Ukrainian economy and society functioning as normally as possible, it is essential that Ukrainian businesses can operate. Even though Russia’s aggressive war continues, we will contribute to facilitating business development in Ukraine with the participation of Ukrainian, Norwegian, and other actors, says Norwegian Minister of Trade and Industry Cecilie Myrseth.
Minister of Trade and Industry Cecilie Myrseth Photo: NFD / David Berg Tvetene
Many companies perceive the risk of investing in a country in war as too high. This announcement aims to promote investment-ready projects and facilitate increased foreign investments. The call is open to Ukrainian, international, and Norwegian companies, and applications will be assessed continuously. The Norwegian Agency for Development Cooperation (Norad) will manage the call for proposals.
-The goal is to lower the threshold for investment and initiate new projects in Ukraine. We will prioritize renewable energy and food security. These sectors are crucial both for Ukraine’s current situation and the country’s reconstruction, says Norad’s Director General Bård Vegar Solhjell.
Norad’s Director General Bård Vegar Solhjell. Photo: Nadia Frantsen
In Ukraine, the private sector plays a central role in reconstruction, particularly in rebuilding the energy sector, which has been severely affected by Russian attacks. The destruction resulting from the war is extensive. In January of this year, the World Bank estimated that rebuilding Ukraine would cost more than 486 billion dollars. The economic, social, and human costs increase every day Russia continues the war.
Please find the call for proposals here. Support for enterprise development for Ukraine - stage 1 - Insights (mfa.no)
The Nansen Program for Ukraine is a Norwegian civilian and military support program totaling 75 billion kroner for the period 2023–2027. The allocation between civilian and military support is decided annually based on Ukrainian needs. Norad manages the civilian support of the program on behalf of the government.
Learn more about the management of the civilian support of the Nansen Program for Ukraine here. The Nansen Support Programme for Ukraine (norad.no)