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Denmark agrees to create $1 billion fund to help Ukraine

Mar 15, 2023

The Danish government and a broad majority of parties in the Danish parliament have agreed to create a fund of 7 billion Danish kroner (1 billion US dollars) for civil, military, and economic assistance to Ukraine.

According to Yevropeiska Pravda, this is stated in a statement by the Danish Ministry of Finance.

"With today's agreement, we are allocating just over DKK 7 billion in additional aid to Ukraine. I am glad that the broad majority in the Danish Parliament is taking responsibility and demonstrating that Denmark stands with Ukraine. Denmark is already one of the countries that - compared to our size - supports Ukraine the most. This is something the government and the parties to the agreement agree to continue to do," said Finance Minister Nikolaj Wammen.

"Ukrainians are fighting not only for their own freedom but also for the security of the whole of Europe. With the Ukraine Fund, we are taking Danish support for Ukraine to a new level. This applies not least to the business sector. Danish companies can supply many of the things that Ukraine lacks, such as drinking water, district heating, and food. Therefore, we must step up our efforts," said Foreign Minister Lars Løkke Rasmussen.

It is noted that the fund is aimed at the needs and wishes of Ukraine regarding Denmark's concerted efforts, which will focus on military, civilian, and commercial support.

The fund is intended to provide assistance in 2023.

In addition, funds have been set aside in 2024-2027 that can help cover the cost of replacing military equipment related to military donations made in 2022 and 2023.

Author - Olena Madiak, 15/03/2023

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