Ukraine, Netherlands to create financing mechanism for Ukrainian arms makers

Ukraine and the Netherlands have signed a statement of intent to create a mechanism for financial support for Ukrainian arms manufacturers.

That's according to the press service of the Ministry for Strategic Industries, Ukrinform reports.

Deputy Minister for Strategic Industries Serhii Boiev, Ukrainian Defense Minister Rustem Umerov and Dutch Defense Minister Kajsa Ollongren signed a statement of intent, which recorded on paper the intentions of Ukraine and the Netherlands to create an effective mechanism of financial support for Ukrainian arms manufacturers.

The signing of the statement aims to strengthen the production potential of the Ukrainian defense industry and ensure the supply of the most effective weapons to Ukraine's security and defense forces with the support of the Netherlands.

Ukraine's partners have already decided to allocate EUR 60 million for the purchase of drones for Ukraine, with EUR 17.5 million to be spent on the purchase of Ukrainian-made naval drones.

The Ministry for Strategic Industries said the allocation of funds by the Netherlands for the purchase of Ukrainian drones is a significant contribution to the ZBROYARI: Manufacturing Freedom fundraising campaign. The goal of the campaign is to collect $10 billion for the production of Ukrainian weapons in 2024. As part of the project, Ukraine already has three donors. In addition to the Netherlands, Denmark allocated $28.5 million and Canada earmarked $2.1 million.

Ukrainian and Dutch Defense Ministers, Rustem Umerov and Troels Lund Poulsen, earlier signed a memorandum on the purchase of weapons and equipment from Ukrainian manufacturers as part of a meeting of the Ukraine Defense Contact Group. Denmark has become the first NATO country to invest in the production of weapons on Ukrainian soil.