Denmark is taking another step in supporting Ukraine by providing financial support for the launch of production facilities for the Ukrainian defense company Fire Point on its territory.
Denmark is taking another step in supporting Ukraine by providing financial support for the launch of production facilities for the Ukrainian defense company Fire Point on its territory.
This was reported by the Danish Ministry of Business and Industry.
The country's government will provide a state guarantee for a loan of 750 million Danish kroner (over $100 million) for Fire Point's Danish subsidiary, located in the Senderølland region. The state guarantee was needed because the ongoing war in Ukraine makes it difficult for the company to obtain a loan on standard market terms in Denmark.
Financing will be provided through the Danish Export Investment Fund (EIFO).
Danish Minister of Business and Competitiveness Martin Lidegaard emphasized the strategic importance of this cooperation for the whole of Europe: "By locating a Ukrainian defense enterprise on Danish soil, we gain knowledge, production and partnerships. This will help Ukraine win, strengthen the Danish defense industry and make Europe stronger and more independent."
Danish Defense Minister Jeppe Bruus emphasized that Denmark became the first country to allow the establishment of a Ukrainian defense enterprise on its territory, and explained the main advantage of such a step: "Establishing enterprises outside Ukraine better protects production from Russian attacks. At the same time, the presence of Fire Point expands opportunities for cooperation with the Armed Forces and Danish companies, giving Denmark access to unique technologies and experience gained in wartime."
Peder Lundqvist, CEO of the Danish Export Investment Fund (EIFO), noted that this project is a logical continuation of the long-standing support for Ukraine. According to him, EIFO is currently involved in almost 40 projects that not only help Ukraine here and now, but also contribute to stronger cooperation between Ukrainian and Danish players.
