Ukraine and Norway Agree to Establish a $1 Billion War Risk Insurance Fund

Prime Minister Serhii Koretsky Meets with Norwegian Ambassador

According to Кабмін: Ukraine's Prime Minister Serhii Koretsky held talks with Lars Ragnar Hansen, the Norwegian Ambassador to Ukraine. Their discussion focused on enhancing air defense capabilities and safeguarding civilians from Russian aggression. Economic issues and support for Ukrainian businesses were also important topics during the meeting.

Main Points of Discussion

A central outcome was the agreement to create a War Risk Insurance Fund, which is allocated over $1 billion in Ukraine’s draft State Budget for 2027. Prime Minister Koretsky highlighted:

'The government is actively working on establishing the War Risk Insurance Fund and has already allocated more than $1 billion in the 2027 draft budget to fund it.' Serhii Koretsky

He expressed hope that Norway will become a major contributor to this fund.

The meeting also covered ways to hold Russia accountable for the crimes committed and the damage inflicted on Ukraine. Koretsky stated:

'We are grateful to Norway for its invaluable support of Ukraine and its willingness to deepen our cooperation to protect people and bring about a just peace.' Serhii Koretsky

This dialogue between Ukraine's prime minister and the Norwegian ambassador underscores the critical role of international backing amid the ongoing conflict with Russia. The establishment of the War Risk Insurance Fund aims to provide financial security for Ukrainian businesses and civilians affected by the war. Norway’s potential role as a key donor highlights the strategic partnership between the two nations in matters of security and economic recovery.