Denmark establishes $1 billion fund to aid Ukraine

Denmark’s government will establish a fund with 7 billion Danish crowns ($1.01 billion) to finance military, civilian, and business assistance to Ukraine this year.

Reuters reported this.

A large part of the funds – over $767 million – will be directed to military aid.

Besides, more than $170 million will be allocated to civil aid and almost $57 million – towards efforts of the Danish companies to rebuild Ukraine.

At the end of last year, the Danish government allocated $43 million to purchase weapons for Ukraine.

Denmark is also a member of the “tank coalition” – a group of countries that help strengthen the Ukrainian military with Western-made tanks.

In particular, Denmark, together with Germany and the Netherlands, will transfer Leopard 1 tanks to Ukraine.

In early February, Denmark started a project to modernize a large number of Leopard 1A5 tanks together with the Netherlands and Germany.

The first phase of the project is to deliver tanks for two battalions – equivalent to approximately 80 tanks – as quickly as possible. The first tanks will be ready in the spring and will be used to train the Ukrainian military.

In addition, Ukrainian gunners will receive 19 CAESAR artillery systems from Denmark.