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Estonia will provide Ukraine with a €600 million financial assistance package to implement the Maritime Industry Recovery Plan. This was stated by the Minister of Infrastructure of Estonia Vladimir Svet in an interview with Ukrinform published on 3 February.
Key areas of funding
According to Svet, the funds will be used to protect infrastructure during the war with Russia. The first part of the plan includes the most urgent needs of the Ukrainian navy and maritime industry. The funding will be distributed as follows:
- 25% of the amount is for the needs of the Ukrainian Navy.
- The rest of the funds will be spent on dual-use infrastructure that will help develop the maritime industry even in times of war.
Supporting the civilian sector
In addition to military needs, Estonia will support the civilian maritime industry, in particular:
- The Grain from Ukraine initiative, which helps export Ukrainian agricultural products.
- Increasing the potential of Ukrainian ports, which is critical for the country’s economy.
Signing of the memorandum
On 27 January, in Odesa, Ukraine’s Vice Prime Minister Oleksiy Kuleba and Estonian Minister of Infrastructure Vladimir Svet signed a memorandum of understanding on the implementation of the Maritime Industry Recovery Plan for Ukraine. This is another step towards strengthening the strategic partnership between the two countries in maritime security and infrastructure development.
