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Denmark allocates DKK 300 million to support business projects of its companies in Ukraine

The Danish government allocates additional funds for the Danish-Ukrainian fund, which promotes the attraction of investments by Danish companies in Ukraine. This was stated by Minister for Business of Denmark Morten Bødskov during the Second Investment Forum on the Reconstruction of Ukraine. The event was opened by First Lady Olena Zelenska. In addition, Minister of Foreign Affairs of Denmark Lars Løkke Rasmussen and First Deputy Prime Minister of Ukraine - Minister of Economy of Ukraine Yuliia Svyrydenko took part in the forum.

It is about at least DKK 300 million or approximately USD 43 million for Danish companies that invest and implement business projects in Ukraine.

First Deputy Prime Minister noted the importance of assistance from Denmark, which has been supporting Ukraine since the first days of the full-scale war.

“We are sincerely grateful to Denmark for its leadership in supporting Ukraine. Thanks to the Danish-Ukrainian Fund, we receive much-needed military and humanitarian aid, and business — a wide range of commercial financing and risk mitigation tools for companies that invest and trade with Ukrainian partners. This is an important contribution to our recovery, because it will be based on the private sector. And Danish business is already making this contribution. More than 100 companies carry out commercial activities with Ukraine. Supporting our economy and our people, who heroically defend their home and work for victory,” Yuliia Svyrydenko said.

In turn, the Danish government officials noted that they will continue to help Ukraine, because the fate of the whole world depends on it. Therefore, it was decided to expand the possibilities of the Danish-Ukrainian fund so that Danish companies invest more actively in Ukraine and are protected from potential risks.

“Ukraine’s struggle for freedom is our struggle for freedom. With additional funds in the Danish-Ukrainian fund, we emphasize once again that Denmark supports Ukraine’s tireless struggle for freedom. I am proud that Danish business is so sympathetic to Ukraine. And companies that export to Ukraine, and companies that invest in the country, and funds that support the work of rebuilding the Ukrainian land in various ways. These are all very important steps. After all, all of putin’s crimes require one answer: that we be even more together with Ukraine,” Minister for Business of Denmark Morten Bødskov said.

“Russia’s brutal and illegal invasion of Ukraine had catastrophic consequences for the Ukrainian economy. It is important to make investing in Ukraine as attractive as possible. Because the stronger Ukraine’s economy is, the more chances there are to win the war and restore peace faster. Therefore, the government is now allocating additional funds to support business initiatives that give Danish companies the opportunity to contribute to the reconstruction of Ukraine,” Minister of Foreign Affairs Lars Løkke Rasmussen noted.

As a reminder, the Government of Denmark established the Danish-Ukrainian Fund in March 2023. It coordinates Denmark’s efforts aimed at long-term support of Ukraine in the military, humanitarian and economic spheres.

In particular, a state scheme of loans and guarantees was created under the management of the Danish Export Investment Fund (DEIF) with the first allocated tranche in the amount of USD 144 million, aimed at the reconstruction of critical infrastructure of Ukraine. Cooperation is focused on areas where Denmark has advantages, such as green transformation of the economy, centralized heat and water supply, shipbuilding, development of port infrastructure, transport and logistics, infrastructure, effective governance and support of small and medium-sized businesses.

It was provided for that the Danish Export and Investment Fund would finance projects involving up to 50% of the Ukrainian component. At the same time, the main financing condition is that the economic interest of the Danish side must exceed 30% of the contract value.

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