Denmark pledges $140 million to corporations investing in Ukraine’s protection sector

Denmark will present 130 million euros ($140.6 million) in ensures to assist Danish corporations investing in Ukraine's protection trade, First Deputy Prime Minister and Economic system Minister Yulia Svyrydenko introduced on March 25.

Below the brand new initiative, the Danish authorities will introduce a state-backed assure via the Export and Funding Fund of Denmark (EIFO). The assure covers as much as 70% of Danish corporations' investments in Ukraine's protection sector, amounting to 1 billion Danish kroner ($140.6 million).

The Nordic nation has spearheaded efforts to offer army assist to Ukraine by investing in its protection trade, creating the so-called "Danish mannequin" of buying arms for Kyiv from Ukrainian producers.

Svyrydenko stated the brand new measure would assist mitigate funding dangers and encourage Danish producers to have interaction with Ukraine's protection trade, benefiting from Ukrainian experience, innovation, and actual fight testing of army know-how.

"EIFO is well-known to Danish enterprise, as they’re already actively supporting each their nation's and Ukrainian companies with this device," the minister wrote on Fb.

Because the begin of Russia's full-scale invasion in 2022, Copenhagen has supplied roughly $7.5 billion in army assist to Ukraine.

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