Denmark to Increase Aid to Ukraine by over €3 Billion by 2027

The Danish government and parliamentary majority have agreed on additional investment into the fund that finances support for Ukraine, amounting to DKK 2.3 billion (about US$336 million) in 2023 and DKK 23.5 billion (about US$3.4 billion) in 2025-2027.

According to the agreement between the Danish Parliament and the Danish Government, the financing of the Ukraine Fund will increase by DKK 2.3 billion in 2023, DKK 10.5 billion (about US$1.5 billion) in 2025, DKK 7.4 billion (about US$1.08 billion) in 2026 and DKK 5.6 billion (about US$819 million) in 2027.

"This means that a total of DKK 60.4 billion (about US$8.8 billion) will be allocated for military support to Ukraine in 2023-2028 under the Fund," the press release said.

The additional funding will also help ensure that Denmark reaches the minimum 2% of GDP defence spending agreed by NATO member states.

"Throughout the war, Denmark has been a loyal supporter of Ukraine, and by stepping up our support now, both in 2023 and with significant funding in 2025-2027, we are sending a clear message that Ukrainians can count on Denmark's support in the long term," commented Danish Defence Minister Troels Lund Poulsen.

In March, the Danish government and parliament agreed to establish the Ukraine Fund with a budget of DKK 7 billion (about US$1.03 billion) to provide civilian, military and economic assistance to Ukraine.

Later, another DKK 7.5 billion (about US$1.1 billion) was added to the Danish Ukraine Fund for this year, and another DKK 10.4 billion (about US$1.5 billion) was planned for 2024.