Ukraine and Denmark Sign Memorandum on Cooperation in Country's Reconstruction
On April 23, 2024, Ukraine and Denmark signed a memorandum of understanding regarding long-term cooperation and the reconstruction of Ukraine. The document stipulates that the Danish government will allocate approximately €40 million to support the private sector involved in Ukraine's reconstruction, as well as €380 million to support critical infrastructure utilizing renewable energy.
The memorandum was signed by Ukraine's First Deputy Prime Minister and Minister of Economy, Yuliia Svyrydenko, and Denmark's Minister of Business, Morten Bødskov. During the signing ceremony, Yuliia Svyrydenko expressed gratitude to the Danish government for its support and emphasized the need to strengthen commercial ties between Danish and Ukrainian businesses to bolster Ukraine's economy.
According to the agreements, the Danish government will direct new funding to the Export and Investment Fund of Denmark (EIFO), facilitating new investment opportunities amounting to at least 300 million Danish kroner (approximately €40 million). This will bring the fund's total package to 1.3 billion Danish kroner, or €170 million. Additionally, to support critical infrastructure utilizing renewable energy, the Danish government will provide additional financing of 2.85 billion Danish kroner (approximately €380 million).
Special attention will be given to the green transformation of the economy and the implementation of innovative solutions in critical infrastructure, where Denmark holds leading positions globally. The parties also agreed to facilitate meetings between Danish and Ukrainian businesses, particularly through the Ukrainian Investment Forum, and to cooperate in shipbuilding and the development of maritime port infrastructure.
Denmark's Minister of Business, Morten Bødskov, emphasized that Ukraine's fight for freedom is a shared struggle for freedom, and support for the country must continue. He also noted that Danish companies are ready to contribute to Ukraine's reconstruction by providing their expertise and innovations to aid in the country's recovery.
