Sweden plans to allocate $7 billion in military aid to Ukraine between 2024-2026
The Swedish government has agreed to create a support framework for Ukraine, which would allocate 75 billion Swedish krona ($7 billion) in military support from 2024 to 2026, the Swedish government said on May 22.
With this proposal, Stockholm's civilian and military aid to Ukraine since the outbreak of the full-scale war will amount to over 100 billion Swedish krona (over $9 billion).
"Ukraine's fight against Russia's war of aggression continues and Sweden will support Ukraine's fight as long as it takes," the joint press release by the country's defense and finance ministries read.
"Sweden will increase the support, as the framework amounts to 75 billion Swedish krona in military support for the years 2024–2026, which is 25 billion Swedish krona ($2.3 billion) per year," according to the statement.
The framework could cover future equipment donations, financial contributions, and financial support for the procurement of defense equipment.
The Swedish government reached an agreement on the framework with the right-wing Sweden Democrats party, which provides confidence and support to the ruling parties in the parliament.
In an interview with Bloomberg published on May 21, Swedish Defense Minister Pal Jonson said that the country is ramping up its capacities to increase aid to Ukraine, but the process can take up to two years.
"Russia has gotten back on its feet faster than the Euro-Atlantic community... I expect we will catch up, but I think it will take a year or two before we see the full effect," the minister said.
Read also: Swedish defense minister: Up to 2 years needed to boost production capacity to arm Ukraine
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