Denmark allocates DKK 200M in support of Ukraine’s defense industry

The relevant statement was made by the Ukrainian Economy Ministry, following the working visit by Ukrainian First Deputy Prime Minister, Economy Minister Yuliia Svyrydenko to Denmark, an Ukrinform correspondent reports.

According to the ministry, Denmark endorsed a new military assistance package for Ukraine, allocating DKK 200 million (more than USD 28 million) with a special focus on providing support for Ukrainian defense industry manufacturers.

In general, Denmark is allocating about DKK 2 billion to purchase ammunition, drones and missile components in cooperation with the Netherlands and the Czech Republic, as well as to strengthen the maritime element of Ukraine’s Defense Forces.

“Denmark consistently supports Ukrainian producers in various sectors. Now, the defense industry has been added there. This is an important contribution to not only our resilience on the battlefield but also our economy, as this means jobs for Ukrainians and tax payments that remain within the country,” Svyrydenko noted.

Additionally, Denmark expanded financing for the Danish Export and Investment Fund by DKK 300 million. The Fund not only supports Danish exporters but provides financial tools to Ukrainian companies working with Danish suppliers, as well as the Danish companies willing to invest in Ukraine. The Fund has already selected 21 projects for Denmark to implement in Ukraine. The projects are under assessment at the moment.

Svyrydenko mentioned that, in addition to support for investment in Ukraine, partners are ready to assist with Ukrainian exports to Denmark. The country has already launched several pilot projects. In particular, Danish supermarkets offer shelves with the products made in Ukraine.

“We hope for this initiative to scale up. In addition, the Danish Chamber of Commerce is ready to promote the purchase of Ukrainian products by Danish companies and encourage the entry of Ukrainian producers into the Danish market. Also, it is no less important that we are looking forward to deepening cooperation between Ukrainian and Danish manufacturers in the field of humanitarian demining. Denmark’s Hydrema, which produces heavy mine clearing vehicles, has already localized its production in Ukraine. The company’s capacity allows for 14 vehicles to be made within the next two years. Therefore, we hope that we will be able to jointly implement these capabilities for the sake of the security of Ukrainian lands,” Svyrydenko added.

A reminder that Denmark is allocating USD 5.8 million for the Ukraine Energy Support Fund. Over the past two years, the country has contributed about EUR 11 million to the Fund.

Photo: me.gov.ua