United to win: Finland to procure €660 mln worth of military products for Ukraine from domestic companies
The Finnish Ministry of Defense has launched a new support program for Ukraine, focused on orders from its own defense-industrial complex.
The ministry stated this in its announcement.
The government will discuss the Ministry of Defense budget proposal for additional financing of the Finnish defense industry in the amount of 660 million euros to support Ukraine.
"So far, we have supported Ukraine mainly through the transfer of stocks to it, but in the future, we will order significant volumes of products from our domestic companies," Defense Minister Antti Häkkänen said.
According to him, these decisions will strengthen Ukraine's position to achieve a just peace, and the Finnish defense industry will continue to receive orders.
The new support program has been prepared under the leadership of the Finnish Ministry of Defense since the fall of last year. The preparation included contacts with enterprises and negotiations with international partners, including Ukraine. The products will be delivered to Ukraine as part of future assistance packages.
In the coming weeks, the Minister of Defense will chair a roundtable to discuss financial issues with manufacturers in more detail.
The criteria for purchasing materials will be:
- Ukraine's critical needs,
- transportability,
- and the companies' production and supply capabilities.
These orders will be transferred to Ukraine as part of future aid packages.
For reference:
On November 12, Ukraine and Finland signed a Framework Agreement between the two governments concerning projects financed through the Finnish-Ukrainian Investment Fund (FUIF) program. On February 26, the Verkhovna Rada ratified this agreement.
Within the framework of the Agreement for 2025, loans of up to 50 million euros are planned. Further implementation of the Program will involve concluding relevant loan agreements to determine the volume, terms, and conditions of lending.
Ukraine also proposed to Sweden and Finland that it support the Ukrainian defense-industrial complex by directly financing manufacturers, following the example of the "Danish model."
In addition, Finland announced a new assistance package for Ukraine in September of 118 million euros.
It should be noted that since the beginning of the full-scale invasion, Finland has been actively supporting Ukraine in the humanitarian, financial, and military-technical spheres.
In April, Presidents Volodymyr Zelensky and Alexander Stubb signed a bilateral security agreement that provides long-term Helsinki support and deepens cooperation between the two countries.
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