Ukraine received over €150 million in financing for the defense industry

Author:
Anastasiia Mohylevets
Date:

Ukraine received over €150 million in financing for the defense-industrial complex from Denmark, France, and Lithuania.

This was reported by the Ministry of Defense.

As reported by the head of the department, Rustem Umerov, €111 million will be spent on implementing agreements within the framework of cooperation between the Ministry of Defense of Ukraine, the Ministry of Strategic Industry and the Ministry of Defense of Denmark. This amount will be used to strengthen the Armed Forces of Ukraine with the latest domestically produced means of destruction.

Another €29 million is a grant from the French government. The money will go to strengthen Ukraineʼs security and defense. €10 million will be allocated to the development of the Ukrainian defense industry in accordance with the Memorandum between the Ministry of National Defense of Lithuania, the Ministry of Defense of Ukraine, and the Ministry of Strategic Industry.

The funds will finance the production of missiles, deepstrike drones, and artillery installations.

For more news and in-depth stories from Ukraine please follow us on X.