The Danish Ministry of Defense presented a report on finances, which shows that about DKK 38 billion ($5.7 billion) must be allocated to maintain the strength and quality of the Danish military.

The plan is to attract these funds over the next 10 years.

The Ministry of Defense of Denmark announced this.

It is noted that approximately $4 billion are needed to resolve issues that have accumulated in previous accounting periods and relate to equipment, facilities, implementation of IT solutions, etc.

Another $1.7 billion is needed to invest in equipment and personnel development.

“For many years, the security situation has exhausted the Armed Forces. At the same time, we have to admit that we, the politicians, have been making decisions for several accounting periods based on assumptions that turned out not to be true. This means that we are now faced with the main task of rebuilding the foundation of the Armed Forces,” said Acting Minister of Defense Trolls Lund Poulsen.

The Ministry of Defense of Denmark has started working on a new model of accounting and financial management.

The government will also create an expert committee to support defense strengthening over the next 10-year period.

As previously reported, Denmark recently announced another package of military aid to Ukraine worth $250 million. It should include vehicles, special equipment, air defense systems, and artillery ammunition.

This will be the tenth military aid package that the state is transferring to Ukraine.

Also, the Danish government has created a DKK 7 billion ($1.01 billion) fund to help Ukraine.

The majority of its funds – more than $767 million – will be directed to military needs.