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Denmark sets up USD 1 bn fund to help Ukraine

The government of Denmark will create a fund for military, humanitarian, and economic assistance to Ukraine this year amounting to 7 billion Danish crowns (USD 1.01 billion).

“The outcome of the war will determine not only the fate of Ukraine, but also that of Europe as a whole,” Danish Prime Minister Mette Frederiksen stated as she presented the framework of the new support funding.

According to Danish Finance Minister Nicolai Wammen, the money for Ukraine is to come primarily from an easing of fiscal policy by 0.2 percent of GDP in 2023 and a planned surplus. With this move, the government in Copenhagen intends to raise DKK 5.6 billion.

#Denmark allocates new $140m military aid package for #Ukraine

It will include ammunition for small arms, large-caliber machine guns and missiles for air defense.

Today the Danish government also announced the creation of a billion-dollar aid fund for Ukraine.

— NEXTA (@nexta_tv) March 15, 2023

“This is largely a reflection of the wishes Ukraine has, which in addition to the military and the humanitarian aid are now also about reconstruction,” claims Denmark’s Foreign Minister Lars Løkke Rasmussen.

The fund, which was approved by a wide margin, by the parties represented in the parliament, will allocate DKK 5.4 billion for military aid, 1.2 billion for humanitarian aid, and 400 million for the Danish enterprises’ efforts to restore Ukraine.

On Wednesday, the Danish Defense Ministry announced it was preparing another installment of military aid to Kyiv worth DKK 1 billion. The donation will include ammunition for pistols and heavy automatic rifles, as well as anti-tank mines and anti-aircraft missiles, and is to be financed from the created fund. The Ukraine Fund shows how relatively small Denmark is keen on continuing helping Ukraine for the long term.

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