Today: 5 April 2025
16 March 2023
2 mins read

Denmark to set up $1 bn aid for Ukraine

The aid will be three-pronged, with the biggest chunk being military aid of around 5.4 billion kroner in 2023…reports Asian Lite News

Denmark will set up a $1 billion fund for aid to Ukraine in 2023, the Danish government announced on Wednesday following agreement by almost all parties in parliament.

Western nations have pledged a steady flow of support to Ukraine since Russia’s invasion a year ago.

“The government has agreed to establish a fund for Ukraine with a total framework of around seven billion kroner ($1 billion) in 2023,” the finance ministry said in a statement, a project supported by 159 of 179 members of parliament.

Some development aid will be redirected to pay for the initiative, as well as an easing of financial policy.

The aid will be three-pronged, with the biggest chunk being military aid of around 5.4 billion kroner in 2023.

Civilian aid for humanitarian and long-term reconstruction efforts will receive around 1.2 billion kroner, while 400 million kroner will go to business initiatives.

“We can’t wait for the last shot to be fired,” Foreign Minister Lars Lokke Rasmussen told reporters.

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.

Meanwhile, British and German fighter jets scrambled to intercept two Russian aircraft flying close to Estonia in a joint NATO mission on Tuesday – hours after a Russian plane downed a US drone over the Black Sea – amid fears of an escalation in the region, media reports said.

The RAF and German Typhoon jets were reacting to a Russian air-to-air refuelling aircraft after it failed to communicate with Estonian air traffic control in the Baltic Sea, and as it approached NATO airspace.

The Russian Il-78 Midas plane was intercepted as it was flying between St Petersburg and Kaliningrad. The NATO jets were later redirected to also intercept a Russian Russian Antonov 148 military transport aircraft that was also passing close to Estonian air space, the RAF said in a release on Wednesday.

It was the first joint NATO air policing scramble carried out by the two countries, and comes amid a period of heightened tension in the region due to Russian President Vladimir Putin’s ongoing invasion of Ukraine and his threats to Kyiv’s western allies.

Russia today warned it will “consider any action with US weaponry as openly hostile” after the incident involving the drone in international airspace on Tuesday, which also came as Danish investigators said they had found a “suspicious object” beneath the Nord Stream 2 pipeline, parts of which were mysteriously destroyed last year.

ALSO READ: Canada announces additional military aid to Ukraine

Previous Story

CBUAE, RBI sign MoU to promote innovation

Next Story

Don’t miss Rani Mukerji starrer Mrs. Chatterjee Vs Norway

Latest from -Top News

Trump tariffs send world markets into panic

US benchmark crude oil shed $2.70 to $64.25 a barrel after major oil producers announced they plan to increase production. Brent crude, the international standard, was down $2.63 at $67.51 a barrel

EU prepares retaliation for Trump’s tariffs

The European Commission is assembling a fresh round of counter-tariffs aimed at US goods, adding to two existing lists of potential targets—one of which includes products that were hit by suspended tariffs

US, EU slam China’s war games near Taiwan

US President Donald Trump underscored the need to maintain peace in the Taiwan Strait, advocating for a diplomatic approach to cross-strait tensions while warning against the use of force The United States

£13.9 billion of R&D fund to boost innovation, jobs

Funding outlined to support transformational R&D in areas like life sciences, green energy, engineering and beyond More UK innovators like those developing treatment-transforming dementia tests or building world-leading testing facilities to power

OPEC+ accelerates oil output hikes

Despite the production boost, the group emphasised that future adjustments remain flexible and could be paused or reversed depending on market conditions. Eight OPEC+ nations have unexpectedly decided to accelerate their oil
Go toTop

Don't Miss

Denmark considers enacting laws to prevent burning of Quran

Rasmussen expressed his country’s regret and dissatisfaction with such incidents

Denmark announces alliance on wind energy with India

WAI is demonstrative of activities under the Green Strategic Partnership