Denmark creates $133 million investment fund for Ukraine

Denmark has launched a special investment fund for Ukraine totaling DKK 1 billion, which is approximately $133 million.

This is reported by the press service of the Ministry of Economy of Ukraine, Ukrinform reports.

As noted, the launch of the social program was announced during the Ukrainian Investment Forum in Copenhagen.

"Denmark is one of the leaders in financial assistance to Ukraine. Since the beginning of the full-scale invasion, total military support has amounted to $1.4 billion, and total humanitarian assistance, including macro-financial assistance, has amounted to $212 million. The Government of Ukraine highly appreciates Denmark's support and looks forward to deepening bilateral cooperation and further involving Danish business in projects to restore Ukraine. Thus, a special investment fund created for Ukraine will finance projects involving the best Danish technologies and innovative solutions and will be available to both the public and private sectors," said Minister of Economy Yulia Svyrydenko.

In his turn, Deputy Minister of Economy Oleksandr Hryban noted that the main cooperation between Ukraine and Denmark is the establishment of mutually beneficial relations when Ukrainian companies not only import Danish products but also localize the production of such products in Ukraine.

Thus, the forum announced the approval of funding for two pilot projects in the field of agriculture and agro-processing. These are the affected companies in the southern region - Nibulon, which will receive a loan of €25 million, and Agrofusion, which will receive €15 million. Loans will also be provided to agricultural companies located near the front line in Mykolaiv, which will restore destroyed production facilities by purchasing equipment from Danish exporters.

According to Hryban, the Danish fund will not only provide financial guarantees but also provide direct lending, which puts it on a separate level from financial institutions that have opened their programs for Ukraine. The Danish government also plans to significantly increase the limits and expand the financial assistance program for Ukraine.

Author - Serhii Kolomiets, 28/05/2023