Five Countries to Establish Aid Fund for Ukraine

The United Kingdom, Canada, Sweden, Switzerland, and the United States are planning to establish an aid fund for Ukraine at the end of January, with a funding of £35 million (more than $47 million) over three years. This information was reported on January 25 by the press service of the Ministry for the Reintegration of Temporarily Occupied Territories of Ukraine.

"The fund will be called the 'Partnership for a Strong Ukraine' international fund. It is a joint initiative of the United Kingdom, Canada, the United States, Switzerland, and Sweden. The official launch of the fund's operations is planned for this month. The signing of the agreement is expected to take place on January 31," the ministry's statement said.

The purpose of the fund is to support the long-term sustainable development and increased resilience of communities affected by 'Russian aggression,' prevent further escalation, and prepare for the smooth and unhindered social, economic, and political reintegration of the temporarily occupied territories, according to Kyiv.

The founding countries announced their intention to create the fund in August 2021, hoping it would mitigate Russia's 'destabilizing influence' in Donbas. It was previously expected that the fund would start its operations by December 2021, according to TASS.