Sweden, a $760 billion European economy, has concluded an 18-year development aid program in Liberia, worth approximately $600 million, as the country redirects an increasing portion of its resources towards Ukraine and a major expansion of defense spending, according to Business Insider Africa.
The Scandinavian country concluded its bilateral development cooperation with Liberia on August 31, ending a program that has directed hundreds of millions of dollars to the West African state since 2008.
According to the British publication The Guardian, Sweden has been a significant supporter of Liberia’s post-war recovery and response to the Ebola crisis during 2014-2016, becoming the second largest donor to Liberia, after the United States, and the most important supporter of gender equality and sexual and reproductive health and rights.
Sweden has committed to support Ukraine “for as long as it takes”
The recent decision comes at a time when Sweden is facing a radically different budgetary environment following Russia’s invasion of Ukraine.
Stockholm has committed to supporting Ukraine “for as long as it takes”, while also assuming much larger defense costs as it strengthens its role in European security.
With an economy of 760 billion dollars, Sweden is rapidly increasing its defense spending as it strengthens its military capabilities in response to Russia’s war in Ukraine. Defense spending is set to rise to 3.5% of GDP by 2030, while the country works towards achieving NATO’s broader goal of 5% by 2035.
Details, HERE
