On 7th of October, Denmark issued its first guarantee under a new billion-kroner scheme to enable Danish investments in Ukraine's defence industry. A Danish company received DKK 12 million in guaranteed funding to invest in Ukrainian production of electronic warfare equipment.
The investment supports scaling up production of equipment to combat Russian drones, meeting high demand from the Ukrainian defence sector. The company will expand sales, development and service teams, hire more employees and further develop drone protection technologies.
"Denmark is once again showing that Ukraine's fight for freedom is also our fight for freedom. With this investment, we are emphasising that Danish companies do not hesitate to support Ukraine when it really matters. Our guarantee is proof that Denmark is taking responsibility and standing shoulder to shoulder with the Ukrainians – also when it comes to innovation and protection against Russian drones," – Minister for Industry, Business and Financial Affairs Morten Bødskov.
The guarantee was issued through the Danish Export and Investment Fund (EIFO) during Minister Bødskov's visit to Ukraine with one of Denmark's largest business delegations ever.
"By covering a large part of the risk, we enable both large and small Danish companies to invest in the Ukrainian defence industry. This scheme gives us one billion Danish kroner to support our common goal: to contribute to Danish-Ukrainian defence innovation and resilience," – CEO of EIFO Peder Lundquist.
The billion-kroner scheme was created in spring 2024 to help Ukraine's industry develop capabilities essential for Ukrainian defence.
