Denmark allocates 420 million euros for restoration of Ukraine

Source: Ukraine’s economy ministry

Denmark and Ukraine have signed a memorandum of long-term cooperation, according to which Denmark will allocate 420 million euros to support the private sector and critical infrastructure in Ukraine.

40 million euros will go to support the restoration work in the Ukrainian private sector, and 380 million euros will be directed to the development of critical infrastructure and use of renewable energy.

Financing will be implemented through the Export Investment Fund of Denmark, which operates within the framework of the Danish-Ukrainian Fund. This fund is aimed at reducing financial risks for companies participating in the recovery process of Ukraine.

Part of the funds will be used to strengthen the Ukrainian energy system, which suffered from the Russian attacks. The memorandum also provides for the establishment of partnership meetings between the businesses of the two countries, strengthening of cooperation in the field of shipbuilding, development and restoration of the seaport infrastructure.

The document places special emphasis on the green transformation of the economy and the implementation of innovative solutions in the field of critical infrastructure, in which Denmark is a world leader.