Denmark will allocate more than €420 million for the reconstruction and energy sector of Ukraine

Author:
Kostia Andreikovets
Date:

Ukraine and Denmark signed a Memorandum of Understanding on long-term cooperation and reconstruction of Ukraine. This document provides for the allocation by the Danish government of about €40 million to support the private sector involved in the reconstruction of Ukraine, as well as €380 million to support critical infrastructure using renewable energy.

The memorandum was signed on the Ukrainian side by Minister of Economy Yulia Svyridenko, and on the Danish side by Danish Minister of Entrepreneurship Morten Bedskow, reports the Ministry of Economy of Ukraine.

The money will go to the Export Investment Fund of Denmark, which is part of the Danish-Ukrainian Fund. Its task is to reduce financial risks for companies participating in the reconstruction of Ukraine. Part of the above-mentioned money will help to strengthen the energy system of Ukraine, which suffered from missile and drone attacks by Russian troops.

The Ukrainian-Danish document also provides for the promotion of meetings between the businesses of both countries and the strengthening of cooperation in the field of shipbuilding, development and reconstruction of sea port infrastructure.