Denmark to allocate another US$2.6 billion for military aid to Ukraine

Denmark plans to increase its spending on military aid to Ukraine by DKK 17.9 billion (US$2.6 billion) this year and in 2024.

Source: DR.dk citing Mette Frederiksen, Prime Minister of Denmark, on Monday

"The war in Ukraine is now at a very critical moment, the situation on the battlefield is very serious, and therefore Ukraine needs all the support it can get," Mette Frederiksen believes.

The fund from which military aid to Ukraine is financed was established in March when the majority of the Danish parliament agreed to contribute DKK 7 billion.

The government will allocate another DKK 7.5 billion to the fund this year, making a total of DKK 14.5 billion in the fund. And next year, the government will add another 10.4 billion Danish kroner to the fund.

The money, according to Mette Frederiksen, comes from the "social fund".

"Ukrainians need our weapons and our support right now, so it's urgent. But there are no signs that next year will be a year of peace, so we are already allocating more than ten billion [kroner] in 2024," the Prime Minister explained.

The need for new funds arose because 70% of the fund has already been used.

"The fund for Ukraine will soon be empty, because we are one of the countries that help Ukraine a lot, and that's why we decided to invest a large amount this year, but also next year, Denmark will be one of the countries that support Ukraine the most," Mette Frederiksen says.

"Grateful to the Folketinget [the Danish Parliament], the Danish government and the people of Denmark for the decision to increase the financing of the Ukraine Fund by US$2.6 billion. This major contribution will further strengthen the combat capabilities of the Armed Forces of Ukraine in the short and medium term. Our strength is in unity!", President Volodymyr Zelenskyy tweeted, commenting on the new aid from Denmark.

Background: The launch of a social programme of the Danish Investment Fund for Ukraine worth a total 1 billion Danish kroner (about US$134 million) was announced within the framework of the Ukrainian Investment Forum in Copenhagen.

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