Norway Proposes $85 Billion-Crone Aid Package for Ukraine in 2027
Norway has proposed maintaining total support for Ukraine at 85 billion Norwegian kroner in 2027, including 70 billion kroner for military assistance and 15 billion for civilian and humanitarian aid. Ukrainian and Norwegian officials also discussed private investment, a war-risk insurance fund and Ukraine’s substantial unfunded 2027 needs.
Key points
- Norway proposes 85 billion Norwegian kroner in total support for Ukraine in 2027
- 70 billion kroner would finance military assistance and 15 billion civilian and humanitarian support
- The Nansen Support Programme for 2023–2030 would grow to about 344 billion kroner, or $36 billion
- Ukraine needs about $52.6 billion in external financing to cover its 2027 state budget deficit
- Ukraine’s unfunded 2027 needs are estimated at €70 billion, including €30 billion for budget support and €40 billion for off-budget defence needs
- Norway plans to provide about €9 billion in Nansen Programme support to Ukraine in 2027
- Norway allocated 1 billion kroner, or $107.6 million, for investment in Ukraine’s defence-industrial sector
Why it matters
Norway’s proposed package would provide substantial support for Ukraine’s military, civilian and humanitarian needs, but it would fall well short of the country’s funding gaps. The discussions may also expand private investment by reducing war-related risks that hinder the financing of defence and business projects.
What happened
Ukraine’s Finance Minister Serhii Marchenko met Norway’s Finance Minister Jens Stoltenberg in Kyiv to discuss proposed Norwegian assistance for 2027 and Ukraine’s external financing needs. Norway proposed keeping total assistance at 85 billion Norwegian kroner, with 70 billion for military aid and 15 billion for civilian and humanitarian support. The officials also discussed attracting private capital, instruments to reduce investment risks during the war, and a proposed fund to insure against wartime risks. The Nansen Support Programme would increase to approximately 344 billion kroner for 2023–2030, while Norway plans to provide about €9 billion under the programme in 2027. Norway also allocated 1 billion kroner for investment in Ukraine’s defence-industrial sector and plans to direct an additional €350 million through the Ukrainian Investment Fund, managed by Norfund, to Ukrainian businesses and infrastructure projects during 2027–2030.
How Ukrainian sources describe it
Ukrainian coverage centred on the meeting between the two countries’ finance ministers and framed Ukraine’s 2027 budget deficit, unfunded needs and proposed war-risk insurance fund as urgent issues requiring Norwegian involvement. The reports highlighted calls for Norway to become a key donor to the insurance fund and for Norwegian businesses to invest in Ukraine.
Background
Norway provided more than $700 million in financial support to Ukraine during 2022–2026. Some of its grant-based budget assistance was delivered through World Bank mechanisms to cover priority social expenditure. At the end of October, Norway announced 500 million kroner, or €48 million, for Ukraine’s energy support ahead of winter.