Money from Denmark: Armed Forces of Ukraine will buy weapons in Ukraine for $600 million

The Ministry of Strategic Industries of Ukraine and the Ministry of Defense of Ukraine have signed a number of implementation agreements with the Danish Ministry of Defense that provide for the purchase of arms from Ukrainian defense companies for 4.2 billion Danish kroner (over $600 million), the Ukrainian ministries said on Monday, November 11.

Of this amount, 1.3 billion kroner is funding allocated from the Danish state budget, and 2.9 billion kroner is interest from frozen Russian assets managed by Denmark on behalf of the European Union.

Ukrainian Armed Forces to receive self-propelled artillery systems, drones and missile weapons.

A letter of intent to finance support for Ukraine's defense industry was signed back in September. After that, the Ministry of Defense of Ukraine and the Defense Procurement Agency provided Denmark with “comprehensive information on manufacturers, weapons effectiveness, production capabilities and compliance with anti-corruption standards.”

“As a result of the agreements, Ukrainian manufacturers of weapons and equipment, both state-owned and private, will supply the Armed Forces with self-propelled artillery systems, attack drones, anti-tank weapons, and missile weapons,” said Hlib Kanevsky, director of the Defense Ministry's procurement policy department.

The Ministry of Defense also noted that thanks to the Danish model, Ukraine has already received 50 million euros, which was used to finance the production of self-propelled artillery systems “Bogdan”.

“I am pleased to see that the Danish model is now in place and that we are financing much needed equipment in close cooperation with Ukraine, which can be delivered within a few months. At the same time, we are paving the way for more countries to contribute to the Ukrainian defense industry through the Danish model,” said Danish Defense Minister Troels Lund Poulsen.

Source: DW