Following agreement by nearly all parliamentary parties, Denmark will establish a $1 billion fund for assistance to Ukraine in 2023, the Danish government stated on Wednesday.
Since Russia’s invasion of Ukraine a year ago, the West has committed to providing Ukraine with a steady stream of assistance.
According to a statement from the Denmark finance ministry, “the government has agreed to establish a fund for Ukraine with a total framework of around seven billion kroner ($1 billion) in 2023,” a plan backed by 159 of the 179 members of parliament.
The plan will be funded in part by rerouting some development aid and loosening financial regulations.
The help will come in three forms, with military assistance accounting for the largest portion in 2023, at about 5.4 billion kroner.
Approximately 1.2 billion kroner will be allocated to civil assistance for long-term reconstruction and humanitarian efforts, and 400 million kroner will be used for commercial endeavors.
Foreign Minister Lars Lokke Rasmussen told reporters, “We can’t wait for the last shot to be discharged.
In addition, the government will allocate funds in 2024-2027 to cover the cost of replacing the military aid given to Ukraine in 2022 and 2023, the government said.
“This is largely a reflection of the wishes Ukraine has, which in addition to the military and the humanitarian aid are now also about reconstruction,” Denmark’s Foreign Minister Lars Lokke Rasmussen told the press