DENMARK AND UKRAINE AGREE ON FURTHER INVESTMENT INTO UKRAINE’S DEFENCE INDUSTRY
Denmark and Ukraine are advancing the procurement of weapons through the Ukrainian defence industry, amounting to a total of DKK 4.2 billion (appr. 563 million EUR). By the end of the year, Ukrainian-produced weapons and equipment, financed by Denmark and frozen Russian assets, will be delivered to the front. Denmark will disburse these funds on behalf of the EU.
Today in Kyiv, Danish Defence Minister Troels Lund Poulsen, together with Ukrainian Defence Minister Rustem Umerov and Minister of Strategic Industries Herman Smetanin, signed a letter of intent to continue cooperation on specific procurements from Ukrainian defense companies, totaling approximately DKK 4.2 billion.
“It is important that we continue to support Ukraine's fight for freedom in every way we can. I am therefore very pleased that Denmark has now agreed with Ukraine on the overall framework for how we can best use the DKK 4.2 billion that the EU and Denmark are contributing,” said Defence Minister Troels Lund Poulsen.
The procurements will be funded by DKK 1.3 billion allocated by the Danish government, with support from the Danish Parliament, and DKK 2.9 billion from frozen Russian assets, which Denmark will disburse on behalf of the EU.
“Denmark is leading the way by donating weapons directly from the Ukrainian defence industry. This strengthens Ukraine's ability to produce the specific weapons that are in demand,” added Poulsen.
Earlier this year, Denmark completed a pilot project that financed 18 Ukrainian-made artillery projectiles, which have already been delivered to the Ukrainian armed forces.
The Minister of Defence's trip to Kyiv precedes the Defence Industries Forum, running from 1 to 5 October, which will be attended by a large group of Danish defense industry companies.