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The initiative to the Sweden Baltic Funds was taken in 2018 by the Swedish Government and presented by the Minister for Foreign Affairs, Margot Wallström, in a meeting with her colleagues from Estonia, Latvia and Lithuania at Skansen in Stockholm the 28th of May 2018.

The motive was to celebrate the centenaries of the three Baltic states and to strengthen the relations, especially between youth, in Sweden and the three Baltic Republics. An interim committee led by the Minister created and established the statutes for all three foundations: Sweden-Estonia, Sweden-Latvia and Sweden-Lithuania Cooperation Funds.