The Norwegian government is proposing to allocate one billion Norwegian kroner over three years for investments in the Ukrainian defence industry together with Norwegian businesses. This was announced in a press release from the government on 3 November. The funds are drawn from the military component of the Nansen Programme.
"Ukrainian defence companies are leading in several areas. Norwegian investments can help the sector develop even faster, while also providing an opportunity for Norwegian actors to become more closely linked to this development," says Minister of Trade and Industry Cecilie Myrseth.
The state-owned investment company Investinor will manage the scheme. It is aimed at funds operating in Norway that invest in the Ukrainian defence industry.
"A strong defence requires a strong defence industry. That requires capital and investment. Norwegian state contributions can mobilise private Norwegian capital to invest in Ukrainian industry and technology," says Minister of Finance Jens Stoltenberg.
Minister of Defence Tore O. Sandvik links the initiative to Norway's own security.
"It is crucial that we contribute to the development of the Ukrainian defence industry. Even after a ceasefire, this effort will contribute to deterrence. The initiative can also help further develop cooperation between the Norwegian and Ukrainian defence industries. This is important for Ukraine, but it is also in Norway's own security interest," he says.
"If Ukraine is to succeed in withstanding Russian aggression, deter future attacks and rebuild the country, it is dependent on continued strong and long-term international support," says Minister of Foreign Affairs Espen Barth Eide.