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Ukraine and Denmark signed a Memorandum of Understanding on long-term cooperation and reconstruction of Ukraine.
This document provides for the allocation by the Danish government of about 40 million euros to support the private sector involved in the reconstruction of Ukraine, as well as 380 million euros to support critical infrastructure that uses renewable energy.
This was reported to the Ministry of Economy, Inshe TV reports.
The memorandum was signed on the Ukrainian side by the First Deputy Prime Minister - Minister of Economy of Ukraine Yulia Svyridenko, on the Danish side - by the Minister of Entrepreneurship of Denmark, Morten Bedskow. The ceremony took place on April 23, 2024.
"I want to thank the Government of Denmark for supporting the reconstruction and stability of Ukraine. We see the need to further strengthen commercial ties between Danish and Ukrainian businesses to support the Ukrainian economy and business community. The Memorandum signed by us provides for cooperation with the private sector through the created Ukraine Facility mechanism with a system of loans and guarantees within the framework of the Danish Export Investment Fund (EIFO), which is part of the Danish-Ukrainian Fund aimed at reducing the financial risks faced by companies that take participation in the reconstruction of Ukraine", Yulia Svyridenko explained.
Under the agreements reached, the Danish government will direct new funding to EIFO, facilitating new investment opportunities of at least DKK 300 million (approximately €40 million). Thus, the total package of the fund will reach 1,3 billion Danish kroner or 170 million euros.
In addition, the parties will promote dialogue between Danish funds and relevant Ukrainian partners to support further cooperation on the reconstruction of Ukraine. Government representatives also agreed to facilitate meetings between Danish and Ukrainian businesses, in particular through the Ukrainian Investment Forum, as well as to facilitate the creation and implementation of loan and guarantee mechanisms aimed at supporting Ukraine.
"Ukraine's struggle for freedom is also our struggle for freedom. Your country's support must continue. And Danish business has repeatedly shown what it is made of. We must not allow Putin's attacks to stand in the way of investment in rebuilding a free Ukraine. Our cooperation is already fruitful today, but now we will make it even stronger, thanks to which Danish knowledge and innovations will be able to benefit Ukrainians and help you rebuild your country," Morten Bedskow emphasized.
Special attention will be paid to the green transformation of the economy and the implementation of innovative solutions in the field of critical infrastructure, where Denmark has a leading position in the world market. In particular, to support critical infrastructure using renewable energy, the Danish government will allocate additional funding to the Ukrainian EIFO Mechanism in the amount of 2,85 billion Danish kroner (approximately 380 million euros).
Ukraine and Denmark will also strengthen cooperation in the field of shipbuilding, development and reconstruction of sea port infrastructure.
"The maritime sector is a strong position of Denmark, as there is a significant potential for attracting Danish companies to the Ukrainian maritime sector. Among other things, this may include supporting the development and reconstruction of critical and maritime infrastructure, such as ports, which are crucial in the current geopolitical situation and for the export of Ukrainian goods to global markets both today and in the future. Denmark has a significant strong position in this area and, thus, is able to offer the much-needed support to Ukraine," said Yuliya Svyridenko.
The governments of both countries will also work out opportunities for further cooperation between Danish companies and Ukraine in the field of shipbuilding related to naval potential. This may include Ukraine's participation in the development of Danish patrol ship designs with the possibility of a future procurement agreement.
The Memorandum also refers to the support and development of cooperation and business partnership between Danish and Ukrainian businesses in the field of critical infrastructure and maritime industry, as well as more broadly in the field of business, industry and entrepreneurship.
