Denmark to transfer €130 million to Ukrainian defense industry

Denmark has allocated EUR 130 million to develop the Ukrainian defense industry.

Prime Minister of Denmark Mette Frederiksen announced this during a joint briefing with President of Ukraine Volodymyr Zelenskyi.

According to her, the Ukrainian experience is very important, and other European countries should learn from it.

“It may seem a bit strange that we are standing here and praising our investments, so let me be clear that we can only have peace in Europe when we can protect ourselves,” Frederiksen emphasized.

According to Zelenskyi, thanks to the Danish model, the Ukrainian defense industry has already managed to attract more than $1 billion from partner countries. Norway has recently joined them.

The President is convinced that Ukraine should open its defense industry for full cooperation with partners.

Last week, Ukraine and Denmark signed a series of agreements worth $629 million on procurement for the Defense Forces.

These funds will be used to purchase long-range drones, ATGM systems, missiles, and self-propelled artillery systems made in Ukraine by the end of 2024.

The sources of funding are the governments of Sweden and Denmark and interest from frozen Russian assets.

In particular, Denmark has allocated $185 million, and $414 million is interest on frozen Russian assets managed by Denmark on behalf of the EU.

Denmark is also strengthening the Ukrainian Air Force with American F-16 fighters.

Denmark transferred the first batch of an unknown number of aircraft in August of this year. The government has committed to sending a total of 19 aircraft from its own Air Force.