The European Commission and the Ministry of Defence of Ukraine have launched a cooperation initiative to invest in innovative and cutting-edge technologies.
The programme is designed to support strategic sectors of Ukraine’s economy, with a particular emphasis on aerial, ground and maritime drones, electronic protection systems, space technologies, communications, navigation and critical components.
“We are launching systematic cooperation with the European Commission on investment in defence innovation. Our efforts are focused on supporting technologies that have already proven effective on the battlefield and are shaping advantage in modern warfare,” said Sergiy Boyev, Deputy Minister of Defence of Ukraine for European Integration, following the signing of the agreement.
The agreement provides for the launch of a comprehensive financial programme totalling EUR 161 million, which includes EUR 140 million in EU guarantees and a further EUR 21 million in EU investment grants. The Ministry of Defence of Ukraine said this is expected to attract up to EUR 400 million in bank financing, including for capital investment and operating costs.
For more information
Ministry of Defence of Ukraine
Image: Ministry of Defence of Ukraine
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