Norway allocates over $100 million for investments in the Ukrainian defence industry

The government of Norway has allocated NOK 1 billion (over $107 million) for investments in Ukraine, which will be made in partnership with Norwegian businesses. The funding is intended to help mobilise further Norwegian private capital for investments in the Ukrainian defence industry, according to an announcement.

The state-owned company Investinor will manage the three-year project. It will direct the funds into various funds operating in Norway and investing in the Ukrainian defence industry.

The project will be funded with money already allocated under the Nansen Support Programme for Ukraine.

The Norwegian government believes the initiative will develop cooperation between the Norwegian and Ukrainian defence industries. In addition, the investments in Ukraine are described as investments in the security of all of Europe.

This summer, the two countries already signed an agreement in the Drone Deal format. Through it, the countries aim to step up the exchange of technology and expertise. It will also enable the development of joint projects in the fields of air defence and UAVs.