Development policy and development cooperation

The Government will submit a proposal to Parliament for a new act on Finnfund, Finland's development financier and impact investor. The new act would replace regulation that has been in place for almost 50 years. The reform is intended to improve the administration of the Finnpartnership programme, which channels development finance to businesses, and enhance the services available to companies.

The Government proposes that Parliament approve the partnership agreement between the European Union and its Member States and the members of the Organisation of African, Caribbean and Pacific States (OACPS), also known as the Samoa Agreement.

The Government has submitted to Parliament a proposal for an act on development policy investments. The proposal would create a clear legislative foundation for Finland's development policy investments and define their objectives, principles and procedures.

Finland’s Ministry for Foreign Affairs will grant a EUR 50 million development policy loan to the International Development Association (IDA) of the World Bank Group. The loan will be provided for the Special Program for Ukraine Recovery 2.0 (SPUR 2.0), a new financing programme established by IDA to respond to Ukraine's substantial reconstruction and recovery needs.

Finland is providing EUR 4 million to the UN Horizon Fund for the early recovery and reconstruction of Gaza and EUR 3 million for the development of Palestinian hospitals in East Jerusalem through the PEGASE financing mechanism managed by the EU.