Denmark to Allocate €40 Million for Ukraine Support Innovation Fund
The Danish government has decided to allocate DKK 300 million (almost EUR 40 million) to create an innovation fund for Ukraine. This was announced by the Ministry of Defence of Denmark.
The fund aims to support Ukraine's growing need for rapid technological development on the battlefield. Defence Minister Troels Lund Poulsen held consultations with the Foreign Affairs Committee, which approved the allocation of funds.
The fund will focus on technological areas related to electronic warfare and drones, where new solutions can have a significant impact on the situation at the front.
‘There is no doubt that Ukraine needs support to withstand the significant pressure from Russian troops. The development of the latest technologies on the battlefield will help to balance the enemy's advantage, and funding the innovation pool will contribute to this process. It is important that we continue to support Ukraine in its fight for freedom,’ said the Danish Defence Minister.
Denmark remains one of the largest donors of military assistance to Ukraine. The Danish model has helped to strengthen the production capacity of the Ukrainian defence industry.
‘I was impressed by how Ukraine was able to establish effective arms production in a short time. During my visits to Ukrainian arms manufacturers, I was convinced that we can learn a lot from their experience over the three years of war,’ said Poulsen.
‘We are now expanding our cooperation within the Innovation Pool, and I expect this will further strengthen our support for Ukraine, including through closer cooperation with our armed forces,’ the Minister added.
In addition, Denmark has recently signed a contract with the Norwegian-Finnish defence company Nammo for the production of artillery shells. Nammo is one of Europe's largest ammunition manufacturers and will help Ukraine meet its ammunition needs.
In 2024, it became known that Ukraine will also start producing 155 mm shells using Nammo technology.
As The Gaze reported, Denmark will provide €130 million in guarantees for its companies that are ready to invest in Ukraine's defence industry. The Danish government, through the Danish Export Investment Fund (EIFO), plans to guarantee up to 70% of investments in the Ukrainian defence industry to domestic companies. The total amount of the programme is DKK 1 billion (EUR 130 million).