Sweden pledges $11 million to World Bank's Crisis Fund for Ukraine and Moldova

The Swedish government has pledged 120 million Swedish kronor (approximately $11 million) to the World Bank's crisis fund dedicated to supporting Ukraine and Moldova, according to Report.

Benjamin Dusa, Sweden's Minister for Foreign Trade and Development Cooperation, emphasized the crucial role the World Bank plays in assisting Ukraine to maintain essential government functions, such as paying salaries and pensions to public servants, as well as rebuilding energy and housing infrastructure.

The funds are also expected to strengthen primary and secondary education in Ukraine by providing teacher training and purchasing school supplies.

"The World Bank's financial leverage ensures the efficient use of this aid. Every invested krona enables the bank to provide about three kronor in loans," stated Minister Dusa.

The World Bank's Special Program for Ukraine and Moldova Recovery (SPUR) primarily focuses on the urgent reconstruction and recovery of Ukraine, with a smaller portion directed towards Moldova to address pressing budgetary needs and challenges in the energy sector.