Tuesday, 02 January 2024 12:17 GMT

Denmark To Allocate Additional DKK 500M To Support Investment In Ukraine's Reconstruction


(MENAFN- UkrinForm) The announcement was made in Copenhagen during a meeting of a Ukrainian delegation, led by Prime Minister of Ukraine Yulia Svyrydenko and Minister of Economy, Environment and Agriculture Oleksii Sobolev, with Denmark's Minister of Business Morten Bødskov, Ukrinform reported, citing the Ministry of Economy .

The funds will be used by the Export and Investment Fund of Denmark (EIFO) to guarantee Danish companies' investments in reconstruction projects. The parties also signed a Memorandum of Understanding to extend and strengthen cooperation between the two countries.

“Denmark's government is allocating 500 million kroner to Ukraine Facility. This guarantee capital allows EIFO to support investment and export projects worth at least 1.5 billion kroner. The mechanism reduces business risks and opens opportunities for Danish companies to participate in reconstruction. We highly value Denmark's consistent support since the start of the full-scale war,” Prime Minister Svyrydenko said.

Currently, about 100 of Denmark's largest companies are investing in Ukraine. Denmark is actively involved in financing defense and infrastructure projects; EIFO guarantees, in particular, helped Ukraine obtain equipment for the construction of the second phase of the Tiligulska wind power plant.

The sides also discussed further cooperation. The Ukrainian delegation noted that Ukraine is interested in financial support in its national currency to reduce business risks, as well as in support programs across all key sectors, including defense.

Read also: Ukraine strengthens industrial cooperation with Denmark – Shmyhal

As reported, Ukraine Facility is administered by Denmark's Export and Investment Fund. It helps Danish companies export to and invest in Ukraine by covering business risks. Guarantees have already been provided for projects in the agricultural, energy, and medical sectors.

Photo: gov

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