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Denmark plans to create an international fund for targeted financing of the Ukrainian arms industry. This was announced by the Minister of Defense of the country, Troels Lund Poulsen.
Points of attention
- Denmark is establishing an international fund to provide targeted financing for the Ukrainian arms industry, aiming to support the development and production of military equipment in Ukraine.
- The creation of this fund is driven by the belief that Ukrainian arms can be manufactured faster and more efficiently, making it attractive to international investors due to its lower costs and easier maintenance.
- The Danish Minister of Defense highlights that Ukraine’s arms production is faster and cheaper compared to Europe and the US, emphasizing the need to accelerate the production of weapons in Ukraine to reduce delivery time and meet defense needs.
- Denmark’s support for Ukraine includes plans to direct funding directly to Ukrainian defense industry, with considerations for establishing a special fund combining public and private investments in arms production facilities.
- Increasing support for Ukraine against the backdrop of the conflict with Russia, Denmark intends to use income from frozen Russian assets to finance Ukrainian weapons and equipment, strengthening cooperation between the two countries in defense contracts.
Denmark will help accelerate the production of weapons in Ukraine
The official expressed his belief that the production of weapons in Europe and the United States is “too slow”, and Ukraine could arm itself much faster if it produced more military equipment at home. Arms production in Ukraine can reduce the delivery time from years to months, Poulsen said.
In recent years, we have taken many initiatives to increase the production of various military equipment [in the US and Europe]. But in general, we do not have the same pace of production of military equipment as in Ukraine.
Troels Lund Poulsen
Minister of Defense of Denmark
According to him, Denmark is currently working on directing funding directly to the defense industry of Ukraine. In particular, the possibility of creating by the end of the year a special fund for combining public and private investments in Ukrainian arms production facilities is being considered.
Poulsen noted that earlier Denmark had already started directly financing the production of arms in Ukraine, and this caused “great interest” among other allies. In particular, in July, this scheme financed the production of 18 “Bohdan” cannons, which ended up at the front in two months.
According to Poulsen, production in Ukraine is not only faster, but also cheaper, and the equipment is easier to service and maintain. Despite the potential, the Ukrainian military-industrial complex has “very large unused capacities” due to a lack of funds, he added.
Denmark will strengthen its support for Ukraine against the background of the war with the Russian Federation
The Ministry of Defense of Denmark draws attention to the fact that Ukrainian weapons and equipment will reach the front with the help of financing from the official Copenhagen.
For this purpose, Denmark will use the income from frozen Russian assets.
According to the head of the defense department Troels Lund Poulsen, together with his Ukrainian colleague Rustem Umyerov and Minister of Strategic Industry Herman Smetanin, they have already signed an agreement on intentions to continue cooperation regarding contracts with Ukrainian defense enterprises.
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