The Finnish Ministry of Foreign Affairs has outlined a multi-year plan for supporting the reconstruction of Ukraine, detailing actions from 2025 through 2026. The official document, which appeared on the ministry’s policy-oriented portal, outlines strategic objectives and concrete steps designed to mobilize resources, attract private investment, and accelerate recovery efforts in Ukraine in the wake of recent upheavals. The publication marks the first installment of what Helsinki envisions as a broader, longer-term reconstruction framework, with a second phase anticipated to follow in the coming year as conditions and needs evolve.
Key among the measures is the introduction of a new financing mechanism—the Ukrainian Investment Fund. This mixed credit instrument is designed to unlock a pipeline of Ukrainian projects with a total value up to 50 million euros in 2025 and 2026. The fund aims to combine public funds with private capital, providing a flexible model that can adapt to changing market conditions and support a diverse set of sectors from infrastructure and energy to manufacturing and services. The document emphasizes that the fund will operate with rigorous governance and transparent criteria to maximize impact while maintaining prudent risk management.
Beyond the fund itself, the plan foregrounds an array of market analysis and investment-support initiatives intended to create a more favourable environment for Ukrainian enterprises and international partners. In particular, Helsinki proposes enabling Finnvera, the Finnish export credit agency, to participate more actively in financing exports from Finland and other European partners to Ukraine. This expanded activity is expected to facilitate cross-border trade, bolster Ukrainian production capacity, and help the country diversify its supply chains as it rebuilds critical infrastructure and services. The strategy also highlights mechanisms to mitigate potential credit losses, ensuring that financial instruments can endure the inherent risks associated with post-conflict reconstruction projects.
To strengthen the long-term capital base available for Ukraine’s private sector, the Finnish government plans to increase resources for Finnfund, the state development finance institution. An additional provision of 25 million euros will supplement Finnfund’s investments, targeting private-sector development, innovation, and job creation within Ukraine. The scaling of Finnfund’s portfolio is positioned as a means to catalyze private investment, improve project viability, and attract further international participation by de-risking early-stage opportunities and showcasing successful Finnish-led development finance models. This approach aligns with broader European and transatlantic efforts to support Ukrainian resilience through sustainable growth and private-sector-led recovery.
In parallel, an official communique notes that a separate package of military assistance is planned as part of the broader support framework. A recent statement referenced a commitment to an aid package valued at 106 million euros, aimed at enhancing Ukraine’s defense capabilities and ensuring the delivery of essential equipment to Kyiv. This aspect of support operates alongside reconstruction funding, underscoring Finland’s multifaceted response that combines humanitarian, development, and security dimensions to assist Ukraine in stabilizing, rebuilding, and reinvigorating its economy and institutions. The approach reflects a broader understanding that reconstruction without security guarantees would limit progress, and vice versa, that security assistance can create a fertile environment for sustainable development and investment.
As part of this coordinated strategy, Finland has also acknowledged discussions about leveraging frozen or repurposed international assets held in other jurisdictions to support Ukrainian needs. The contemplation of such financial avenues reflects a pragmatic approach to maximizing available resources while maintaining transparency, accountability, and compliance with international norms. Overall, the Finnish plan positions reconstruction as a collaborative effort that combines public funding, private capital, and international partnership to help Ukraine rebuild critical infrastructure, restore economic activity, and create a foundation for long-term growth. The emphasis on market-oriented reforms, export-oriented financing, and development finance suggests a roadmap designed to attract ongoing international participation and to align with Ukraine’s reform priorities as it progresses toward greater resilience and self-sufficiency. [Attribution: Finnish Ministry of Foreign Affairs; official summaries and ministerial statements]