0of 5,000

Help us find 5,000 new members. Bring one friend.

Share your personal link and make us stronger in 2027.

0 found so far

Goal 5,000

News Feed

Denmark pledges $140 million to companies investing in Ukraine's defense sector

• 1 min read
Denmark pledges $140 million to companies investing in Ukraine's defense sector
National flags of Denmark (L) and Ukraine, Lviv, western Ukraine, on Oct. 10, 2023. (Anastasiia Smoliyenko / Ukrinform via Getty Images)

Denmark will provide 130 million euros ($140.6 million) in guarantees to support Danish companies investing in Ukraine's defense industry, First Deputy Prime Minister and Economy Minister Yulia Svyrydenko announced on March 25.

Under the new initiative, the Danish government will introduce a state-backed guarantee through the Export and Investment Fund of Denmark (EIFO). The guarantee covers up to 70% of Danish companies' investments in Ukraine's defense sector, amounting to 1 billion Danish kroner ($140.6 million).

The Nordic country has spearheaded efforts to provide military support to Ukraine by investing in its defense industry, creating the so-called "Danish model" of purchasing arms for Kyiv from Ukrainian producers.

Svyrydenko said the new measure would help mitigate investment risks and encourage Danish manufacturers to engage with Ukraine's defense industry, benefiting from Ukrainian expertise, innovation, and real combat testing of military technology.

"EIFO is well known to Danish business, as they are already actively supporting both their country's and Ukrainian businesses with this tool," the minister wrote on Facebook.

Since the start of Russia's full-scale invasion in 2022, Copenhagen has provided approximately $7.5 billion in military aid to Ukraine.

Avatar
Tim Zadorozhnyy

Reporter

Tim Zadorozhnyy is a reporter at the Kyiv Independent covering foreign policy, U.S.-Ukraine relations, and political developments across Europe and Russia. He studied International Relations and European Studies at Lazarski University and Coventry University. Tim began his journalism career in Odesa in 2022 as a reporter for a local television channel. He later spent a year and a half at the Belarusian independent media outlet NEXTA, first as a news anchor and later as a managing editor. He is fluent in English, Ukrainian, and Russian.

Read more
News Feed
 (Updated:  )

The grounding was the first nationwide flight stoppage since January 2023, when an FAA computer system malfunctioned. Before that, the last nationwide grounding followed the terrorist attacks of Sept. 11, 2001.

 (Updated:  )

Local authorities later on Nov. 13 reported that a rescue worker from the Cobra emergency service was killed when a concrete slab fell on him while he was clearing debris from a building damaged in the Russian attack.

Show More