Business news from Ukraine

Netherlands, Denmark and Germany to produce CV90 and Patriot for Ukraine

The Netherlands, together with Denmark, will produce CV90 infantry fighting vehicles for Ukraine, and together with Germany – Patriot.

This was announced on Friday by the Dutch government.

“The Netherlands, together with Denmark, is participating in a €400 million Swedish fund to create CV90 infantry fighting vehicles for Ukraine. Most of them will be produced in the Netherlands. In addition, Germany is launching a European assembly line for Patriot missiles, partly due to demand from the Netherlands,” the press release said.

In addition, the Dutch Ministry of Defense is also investing 54 million euros in the Dutch industry to develop drones for its own armed forces. This is included in the action plan to increase the production and supply of military equipment, the Dutch government said.

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Denmark allocates new aid package of €33.5 mln to Ukraine

The Danish government is allocating a new humanitarian aid package for Ukraine in the amount of DKK 250 million (€33.5 million), which, in particular, provides for the protection of the most vulnerable groups, the press service of the Danish Ministry of Foreign Affairs reports.

“…With this new support package, we aim to provide urgent and vital humanitarian assistance and protection to the most vulnerable groups,” said Danish Minister for Development Cooperation and Global Climate Policy Dan Jorgensen.

The package provides basic emergency assistance such as food, medicine, water and shelter for Ukrainians in the most affected areas of the Russian aggression, with a special focus on protecting the most vulnerable people in Ukraine.

“The support package also contributes to efforts to prevent, mitigate and respond to the particular risks faced by women and girls, including the risk of sexual and gender-based violence, and contributes to the provision of, for example, psychosocial support and maternal health care,” the statement said.


Denmark to increase military support for Ukraine by another DKK 4.4 bln

The Danish government and parliament have agreed to increase military support for Ukraine by another DKK 4.4 billion (EUR 590 million) this year, the press service of the Danish Ministry of Defense reports.

“Today, the Danish government and the Socialist People’s Party, the Danish Democrats, the Liberal Alliance, the Conservative People’s Party, the Social Liberal Party and the Danish People’s Party have agreed to increase the framework of military support for Ukraine by another DKK 4.4 billion in 2024,” the statement said on Thursday.

Defense Minister Trolls Lund Pulsen noted that since the beginning of the full-scale Russian invasion of Ukraine, Denmark has been one of the most active donor countries.

“We must continue in the same spirit, so I am pleased that a broad majority of parties in the Danish parliament support the addition of an additional DKK 4.4 billion to the Military Support Fund for Ukraine in 2024. It is extremely important to show Ukrainians that we support them in this serious situation,” he emphasized.

The Ministry notes that most of the funds already allocated for military support in 2024 have already been used. However, the Danish government and parliament agreed on the need for further military support for Ukraine this year, so it was decided to increase it.

“The purpose of military support under the Fund for Ukraine in 2023-2028 will continue to be to provide direct military support to Ukraine in the form of weapons, other military equipment and training efforts. This includes the purchase of equipment, weapons, etc. from Danish and foreign defense companies for transfer to Ukraine, as well as financial donations and cooperation with other countries to support Ukraine,” the statement said.

In addition, representatives of the Danish government and parliament agreed that the possibility of direct purchases from the Ukrainian defense industry can be realized if the necessary control mechanisms are in place.

In total, the total amount of military support under the Ukraine Fund, taking into account its increase, will amount to DKK 64.8 billion (EUR 8.7 billion) in 2023-2028.


Denmark to allocate additional EUR380 mln to rebuild Ukraine’s infrastructure

The Danish government has decided to allocate additional EUR380m for the reconstruction of Ukraine’s infrastructure and construction of wind farms, Danish Business Minister Morten Bedskou said at a meeting with Ukrainian President Volodymyr Zelensky in Kiev.

According to the press service of the President, during the meeting, the Danish Minister of Entrepreneurship noted the opportunities for strengthening cooperation between the countries and informed about the decision of his government to allocate additional funding for the Ukrainian mechanism of the Danish Export and Investment Fund.

As noted, this mechanism fully covers the risks of Danish exporters and investors, as well as provides financing to Ukrainian private companies and state institutions.

For him, the Danish government will allocate almost EUR380 million more for the restoration of critical infrastructure and construction of wind farms.

At the meeting, Zelensky and Bedskou paid special attention to the prospects of expanding Danish business and attracting new investments in Ukraine.

In turn, the President of Ukraine emphasized the importance of the fact that the Minister of Entrepreneurship of Denmark during his visit to Kiev is accompanied by the heads of Danish companies – the largest investors in the economy of Ukraine.

“Your activity in the Ukrainian market is striking. With your investments you set an example for other partners and investors”, – emphasized Zelensky.

As reported, during the recent visit of the First Lady of Ukraine Olena Zelenska to Denmark, she asked Danish partners for additional funding for the Danish Export and Investment Fund, the funds from which come to help Ukraine.

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Denmark to allocate almost $9 mln to Ukraine to fight corruption

Denmark will allocate DKK 60 million (USD 8.75 million) to Ukraine to support the fight against corruption under the EU Anti-Corruption Action Program (EUACI), the Danish Ministry of Foreign Affairs reports.

Denmark has been leading the EU’s anti-corruption program in Ukraine (EUACI) since 2016. During his visit to Ukraine today, Danish Foreign Minister Lars Lekke Rasmussen announced support for the third phase of the program.

“Even before Russia’s illegal invasion, Ukraine had made significant progress in the fight against corruption, and even while the country is at war, it has managed to continue its positive development. But there are still areas that can be improved, and it is crucial for Ukraine’s EU dream that we help it achieve its goals,” the Foreign Ministry’s press service quoted Rasmussen as saying.

It is noted that the EU is contributing more than 70 million Danish kroner to the upcoming phase of the program, and Denmark is contributing almost 60 million Danish kroner.

Among other things, the program aims to promote openness and honesty in the reconstruction of Mykolaiv through close cooperation with the mayor and his team. It is planned to develop best practices for the reconstruction of Mykolaiv that can be used in other cities of Ukraine.

The ministry said that Rasmussen provided information on Denmark’s support for the EU’s anti-corruption program at today’s meeting with Ukrainian Foreign Minister Dmytro Kuleba. The two foreign ministers met in the Ukrainian city of Mykolaiv, for the restoration of which Denmark has a special responsibility.

They discussed, among other things, how Denmark and Ukraine can further develop cooperation on Mykolaiv and how Denmark can continue to support Ukraine in its fight against Russian aggression.

The Danish Foreign Minister met with students of Mykolaiv Shipbuilding University as well as the city authorities.


Denmark to provide $13.3 mln for Ukraine’s cyber defense

Denmark is contributing DKK 91 million ($13.3 million) to projects to support the development of cybersecurity and defense of the Armed Forces of Ukraine and the Ministry of Defense of Ukraine.

“The donation is made under the auspices of the Estonia-led and Luxembourg-led IT Coalition for Ukraine, which Denmark has joined along with a number of other countries,” the statement said.

Denmark and other members of the IT Coalition signed a cooperation agreement yesterday on the sidelines of a meeting of the Ukraine Defense Contact Group.

“This donation is an important contribution to the long-term support for strengthening Ukraine’s cyber defense. Since the beginning of the invasion, Denmark has made a significant contribution to the Ukrainian liberation struggle, and this also applies to cyberspace,” said Defense Minister Troels Lund Poulsen.

In addition to Denmark, the coalition includes Estonia, Luxembourg, Iceland, Italy, Latvia, Lithuania, the Netherlands and Ukraine. So far, Denmark, Estonia and Luxembourg have made financial donations to the coalition.