Koretskyi urges Norway to become key donor of Ukraine's war risk insurance fund

Ukrainian Prime Minister Serhii Koretskyi met Norway's Finance Minister Jens Stoltenberg to discuss the creation of a war risk insurance fund in Ukraine. The prime minister reported the meeting on his X account, according to the outlet European Pravda.

Koretskyi called on Norway to become one of the fund's key donors and encouraged Norwegian businesses to develop investment projects in Ukraine. The two ministers also discussed Ukraine's spending needs for next year.

A funding gap remains

Koretskyi noted that the cost of the war is rising. Even with the aid already confirmed by partners, 70 billion euros remain uncovered in 2027: 30 billion euros for budget support and 40 billion euros for the Armed Forces of Ukraine. In his words, only the joint efforts of all partners can resolve this exceptionally difficult task.

Norway plans to provide Ukraine with about 9 billion euros in support in 2027 under the Nansen Programme.

Earlier Norwegian steps

The Norwegian government plans to channel 1 billion kroner (about $107 million) toward attracting private Norwegian investment into Ukraine's defence industry. At the end of October, it also announced 500 million kroner (48 million euros) for energy support to Ukraine ahead of winter.