EU invests over €700 million in Ukrainian defense technologies - Ministry of Defense
Kyiv • UNN
The European Union is paving the way for over €700 million in investments in Ukrainian defense technologies. The funding will be directed toward scaling up the production of drones and other military solutions.
The European Union opens the way to over 700 million euros in investments in Ukrainian defense technologies. This will become possible thanks to 343 million euros in EU guarantees and blended finance grants, reports UNN citing the Ministry of Defense of Ukraine.
Details
The Ministry of Defense noted that the relevant agreements were signed by the European Commission, the Ministry of Defense of Ukraine, and the governments of France and Finland during the Ukraine Recovery Conference held in Gdańsk.
The funding will be directed toward scaling up the production of Ukrainian drones, counter-drone systems, ground robotic complexes, as well as aviation, navigation, and communication solutions.
The department emphasized that the new agreements should help attract over 700 million euros in investments for the development of Ukraine's defense-industrial complex and modern military technologies.