Ukraine, Denmark sign letter of intent on financial support for defense production in Ukraine

The Ministry of Defense of Ukraine, the Ministry of Strategic Industries of Ukraine and the Ministry of Defense of Denmark have signed a letter of intent on financial support for defense production in Ukraine, which will help attract almost EUR 600 million of investments in Ukraine's defense industry.

Ukrainian Defense Minister Rustem Umerov said this in a post on Facebook, Ukrinform reports.

"Today, we took an important step in strengthening Ukraine's defense capabilities. Together with the Minister of Defense of Denmark, Troels Lund Poulsen, we signed a Letter of Intent between the Ministry of Defense of Ukraine, the Ministry of Strategic Industries of Ukraine and the Ministry of Defense of the Kingdom of Denmark regarding the implementation of financial support for defense production in Ukraine. This will help attract almost 600 million euros of investment in our defense industry," Umerov said.

According to him, this is a direct contribution to the development of Ukrainian attack UAVs, missiles and anti-tank systems.

"Denmark allocates 175 million euros, and another 400 million [euros] will be taken from surplus profits of immobilized Russian assets," Umerov said.

He noted that this cooperation was already bearing results as 18 Bohdana self-propelled howitzers, manufactured with the financial support of Denmark, had been handed over to the Ukrainian Armed Forces.

"We are open to new models of cooperation with other European countries. Our goal is a strong defense industry that will ensure victory on the battlefield and restoration of Ukraine's territorial integrity," Umerov said, thanking Ukraine's partners for their unwavering support.