Denmark allocates over €400 million for reconstruction and energy recovery of Ukraine

Yuliia Svyrydenko, Vice Prime Minister of Ukraine, and Morten Bødskov, Danish Minister for Business, signed a memorandum of understanding on long-term cooperation and the reconstruction of Ukraine on 23 April.

Source: press service of the Ministry of Economy of Ukraine, reported by European Pravda

Details: The memorandum provides for the Danish government to allocate about €40 million to support the private sector involved in the reconstruction of Ukraine, as well as €380 million to support critical infrastructure using renewable energy.

The funding will be directed to the Danish Export and Investment Fund, which is part of the Danish-Ukrainian Fund. It is aimed at reducing the financial risks faced by companies involved in the reconstruction of Ukraine.

The Ukrainian-Danish document also provides for the facilitation of meetings between businesses of both countries and the strengthening of cooperation in shipbuilding, development and reconstruction of seaport infrastructure.

Background:

• Denmark recently announced a new package of military assistance to Ukraine.
• And last month, the Defence Procurement Agency of Ukraine and the Danish Ministry of Defence Acquisition and Logistics Organisation signed a memorandum of understanding and cooperation in defence procurement.

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