Denmark agreed to create a fund to support Ukraine worth one billion dollars

Sofiia Telishevska

The government of Denmark agreed to create a fund in the amount of 7 billion Danish kroner (a billion dollars) for civil, military and economic assistance to Ukraine.

This is stated in the message of the Ministry of Finance of Denmark, Reuters reports.

"I am glad that the vast majority in the Danish parliament takes responsibility and demonstrates that Denmark stands together with Ukraine. Denmark is already one of the countries that — given our size — supports Ukraine the most," noted the Finance Minister Nikolai Vammen.

The funds of the fund are intended for assistance in 2023.

In addition to this, in 2024-2027, funds are reserved that can contribute to covering the costs of replacing military equipment. These funds are tied to military donations made in 2022 and 2023.

The fund will consist of three components:

  • weapons and other military equipment together with training — 5.4 billion Danish kroner (DKK).
  • civilian support for immediate humanitarian efforts as well as long-term reconstruction — DKK 1.2 billion.
  • support of business initiatives that give Danish companies the opportunity to contribute to the recovery of Ukraine — 0.4 billion Danish kroner.

Previously, Denmark provided military support to Ukraine in the amount of about 5 billion Danish kroner.