Denmark creates $1 billion multifaceted aid fund for Ukraine

The government of Denmark and the vast majority of parties in the Danish parliament has been agreed to create a fund of 7 billion Danish kroner (1 billion US dollars) for civil, military, and economic aid to Ukraine.

The European Pravda reports, citing the Ministry of Finance of Denmark, that the fund is aimed at Ukraine's needs and wishes regarding Denmark's concerted efforts, focusing on military, civilian, and commercial support.

"With today's agreement, we are allocating more than 7 billion Danish kroner in additional aid to Ukraine. I am glad that the large majority of the Danish parliament is taking responsibility and demonstrating that Denmark stands together with Ukraine," Finance Minister Nicolai Wammen emphasized. "Denmark is already one of the countries that — compared to ours in terms of size — supports Ukraine the most. This is what the government and the parties to the agreement agree to remain in the future."

The fund will consist of three components:

• Military support for Ukraine's struggle for freedom in the form of weapons, other military equipment, and training activities. Approximately DKK 5.4 billion is earmarked for military aid in 2023.
• Civilian support aimed at immediate humanitarian efforts as well as long-term reconstruction. 1.2 billion Danish kroner has been reserved for these purposes.
• Support for business initiatives that allow Danish companies to contribute to the recovery of Ukraine. 0.4 billion Danish kroner has been reserved for this.

"Ukrainians are fighting not only for their own freedom but also for the security of the whole of Europe. With the Ukrainian Fund, we are taking Danish support to Ukraine to a new level," said Foreign Minister Lars Løkke Rasmussen. "This applies not least to business. Danish companies can supply many things that Ukraine lacks, such as drinking water, central heating, and food. That's why we have to step up our efforts." 

The publication reports that the funds are intended for assistance in 2023 and earmarked for 2024-2027. This could help cover the cost of replacing military equipment with military donations from 2022 and 2023.

Acting Minister of Defense Troels Lund Poulsen noted that until now, Denmark had provided military support to Ukraine in the amount of about 5 billion Danish kroner. With the help of the newly created Ukrainian Fund, the country aims to maintain a high level of military support.

"It should have real and tangible meaning for Ukrainians. Their struggle is also our struggle," he said.

Earlier, the Norwegian parliament approved a multi-year support program for Ukraine for almost 7 billion euros.