• Українською
  • Ministry of Strategic Industries: Over USD 1.5 billion attracted to Ukrainian defence industry in 2024
    Ministry for Strategic Industries of Ukraine, posted 27 January 2025 13:57

    The ZBROYARI: Manufacturing Freedom initiative continues to attract funds to the Ukrainian defence industry. In 2024, the initiative raised more than USD 1.5 billion. Most of the funds allocated were received in the last quarter of the year.

    Thus, 9 countries have joined the initiative: Denmark, Canada, the Netherlands, Lithuania, the United Kingdom, Sweden, Norway, Iceland, the United States, and the European Union. The countries allocated either their own budget funds or interest from frozen russian assets.

    Out of the total amount of more than USD 1.5 billion, more than USD 500 million was used in cooperation with the Kingdom of Denmark through the “Danish model”.

    The allocated funding is being implemented under several scenarios. The Danish model has proved to be the most successful, where the partner country provides reimbursement to the customer under contracts already concluded between the MoD and the contractor. Thus, the pilot project financed the production of 18 Bohdana self-propelled guns, which are already being used at the frontline. In addition, the production of long-range drones, artillery systems, ATGM systems and missiles has been financed under the same scenario until the end of 2024. Other countries are also implementing this mechanism to finance the production of Ukrainian weapons and military equipment.

    As a reminder, Denmark was the first country to allocate funds for the production of Ukrainian weapons and military equipment. The Netherlands, Canada, Lithuania, the United Kingdom, Sweden, Iceland, Norway, the United States and the European Union also joined the initiative. The funds were allocated from the state budgets of the partner countries and from the frozen assets of the russian federation. More information on the amount of these funds can be found here.

    “We are grateful to our partners for this support and for their faith in the Ukrainian defence industry. We are increasing our production capabilities, but it depends on funding whether these capabilities will turn into real weapons. This support significantly strengthens both the Defence Forces and the Ukrainian economy. And it allows us to continue building the Arsenal of the free world!” said Minister for Strategic Industries Herman Smetanin.