Denmark opens investment fund for Ukraine totaling DKK 1 bln - Ukrainian Economy Ministry

MOSCOW. May 29 (Interfax) - An announcement on launching a social program of the Danish Investment Fund for Ukraine totaling 1 billion Danish kroner, which is equivalent to $133 million, was made at the Ukrainian Investment Forum in Copenhagen on Friday, May 26, Ukrainian media reported with reference to the Ukrainian Economy Ministry.

Ukrainian First Deputy Prime Minister and Economy Minister Yulia Sviridenko described Denmark as one of the leaders in providing financial assistance to Ukraine.

Since the start of the crisis, military support provided by Denmark has totaled $1.4 billion, and the overall humanitarian assistance, including macro-financial assistance, $212 million, she said.

"The special investment fund created for Ukraine will finance projects involving the best Danish technologies and innovative solutions and will be available to both the public and private sectors," Sviridenko said.

Deputy Economy Minister Alexander Griban said Ukrainian companies not only import Danish products but also localize their production in Ukraine.

"We are interested in Danish technologies and see great prospects in the application and deployment of Danish companies in Ukraine in priority sectors. In particular, these are renewable energy, construction materials, utility rehabilitation technologies, as well as defense and dual-use technologies," Griban said.

The forum participants were also informed that the financing of two pilot projects in the agricultural production and processing sector was endorsed. In particular a 25 million euro loan will be issued to Nibulon and 15 million euros to Agrofusion, both based in the southern part of Ukraine. Financing will also be provided to agricultural companies in Nikolayev.

Griban said the Danish fund would not only provide financial guarantees but would also provide direct lending, which puts it on a special level among the financial institutions that have opened their programs for Ukraine. The Danish government also plans to significantly increase the limits and expand the financial assistance program for Ukraine, he said.

"We would like to involve Danish business in the early stages of Ukraine's reconstruction. We have to act and support the Ukrainian economy," Danish Minister of Industry, Business, and Financial Affairs Morten Bodskov said.