Norway to allocate $33 million for development of Ukraine’s defense industry
Norway allocates half a billion Norwegian kroner (about $33 million) for the development of Ukraine's defense industry.
This was reported by Censor.NET with reference to the website of the Norwegian government.
"This funding will be directed to the defense industry of Ukraine to ensure the rapid production of weapons and military equipment. Norway provides assistance from our own stocks and purchases products from the domestic industry, but this is not enough. We need to strengthen Ukraine's ability to produce more, and this support will help achieve that," said Norwegian Defense Minister Bjørn Arild Gram.
He also noted that Ukraine's specific needs will determine production priorities. Domestic production allows Ukrainians to conserve and maintain their resources more efficiently.
In cooperation with Ukraine, Denmark has developed a model for financing procurement directly from the Ukrainian defense industry. In addition, monitoring and accountability processes have been put in place for projects.
Gram explained that a contribution of NOK 500 million will be part of this agreement, allowing Norwegian funds to have an immediate impact on the situation in Ukraine.
"Ukraine's struggle is existential and crucial for the security of Europe as a whole. The West's continued support for Ukraine is crucial, and we must constantly look for new ways to support their defense efforts," Gram concluded.
