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Ukraine aims to raise over $1 billion for 'Danish model' of defense industry funding in 2025

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Ukraine aims to raise over $1 billion for 'Danish model' of defense industry funding in 2025
Prime Minister Denys Shmyhal in Kyiv on Feb. 26, 2024. (Eugen Kotenko/Ukrinform/Future Publishing via Getty Images)

Ukraine is planning to raise more than $1 billion in 2025 to develop the so-called Danish model of funding for Ukraine's defense production, Prime Minister Denys Shmyhal said on Jan. 3.

Denmark became the first country to offer to donate arms to Ukraine via direct purchases from the Ukrainian defense industry, as Kyiv's defense budget does not match the capacities of domestic weapons production.

Shmyhal also said that Ukraine aims to expand its domestic defense production capacity to $30 billion next year.

"The Danish model of cooperation is not only solidarity but also determination to support our struggle for freedom and sovereignty," said Deputy Defense Minister Dmytro Klimenkov.

Last year, Ukraine produced 18 domestically-developed Bohdana self-propelled howitzers financed by Copenhagen.

Kyiv has so far received over 150 million euros ($156 million) in funding from Denmark, France, and Lithuania to bolster its defense industry, Defense Minister Rustem Umerov said in late December.

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Kateryna Denisova

News Editor

Kateryna Denisova works as a News Editor at the Kyiv Independent. She previously worked as a news editor at the NV media outlet for four years, covering mainly Ukrainian and international politics. Kateryna holds a bachelor’s degree in journalism from Taras Shevchenko University of Kyiv. She also was a fellow at journalism schools in the Czech Republic and Germany.

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