Denmark has increased its financial assistance for the purchase of Ukrainian defense equipment to 4.2 billion Danish kroner ($618 million).
The funds will help purchase arms and ammunition for the Ukrainian Armed Forces and boost the country’s domestic defense industry.
The list of weapons covered under the initiative has also been expanded, including anti-tank guided missiles, military drones, and artillery systems.
A total of 1.3 billion Danish kroner ($191 million) will come from the Danish state budget, while the remaining 2.9 billion Danish kroner ($427 million) will come from profits accrued from frozen Russian assets managed by Denmark on behalf of the EU.
“I am very pleased that this agreement represents a significant step forward in our efforts to provide financial assistance to Ukraine for the direct purchase of arms from Ukrainian defense companies,” Danish Defense Minister Troels Lund Poulsen said.
“Denmark has successfully led the way in this area, and now the European Union has decided to support these efforts substantially. This makes it possible to attract much more financial resources. I hope that other countries will support Ukraine’s fight for freedom in the same way.”
To Help Ukraine Buy Local Arms
The initiative aims to help the Ukrainian government purchase local defense equipment, as the industry produces much more than the state can procure.
According to a Ukrainian government estimate, the industry’s annual output is worth $20 billion, while the state’s annual capacity to purchase defense products is only $6 billion.
Copenhagen purchased 18 Ukraine-produced Bohdana self-propelled howitzers for the Ukrainian Armed Forces in July, with delivery taking place in September.
“It is a direct contribution to enhancing Ukrainian combat drones, missiles, and anti-tank systems,” Ukrainian Minister of Defense Rustem Umerov said.
“This monetary support will help us speed up the deployment of necessary weaponry to the battlefield, ultimately reinforcing the defensive capabilities of the Ukrainian Armed Forces.”