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Denmark announces seven-billion kroner Ukraine fund

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Ritzau/The Local - [email protected]
Denmark announces seven-billion kroner Ukraine fund
Danish party representatives talk to media after agreeing on a deal for a fund to support Ukraine. Photo: Emil Helms/Ritzau Scanpix

A majority in the Danish parliament has approved a new fund to help Ukraine defend itself against the Russian invasion.

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The fund, which consists of seven billion kroner (€940 million), will be targeted at Danish military, civilian and commercial assistance to Ukraine, according to the Nordic country’s finance ministry.

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“Last year, we came together in a historic national compromise on Danish security policies. That was necessary in light of the Russian invasion of Ukraine,” Finance Minister Nicolai Wammen said in a statement.

“With today’s agreement we give some seven million additional kroner to the efforts in Ukraine, and this will happen on a fully economically responsible basis,” he added.

All of parliament’s parties with the exception of the left-wing Red Green Alliance and Alternative parties voted for the fund.

Some 5.4 billion of the total 7 billion kroner will be spent on military assistance to Ukraine, with 1.2 billion kroner on civilian needs and 400 million to support businesses.

Part of the spending is funded by Denmark’s international development budget, while over 5 billion comes from spending an increased portion of the national GDP on the 2023 budget, news wire Ritzau states.

The money is designed to “retain a high level for military support” and “make a genuine difference for the Ukrainians,” acting defence minister Troels Lund Poulsen said.

“Their fight is our fight,” he added.

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