# Norway invests in Ukrainian defence industry

- Source: Nordic Defence Sector (https://nordicdefencesector.com)
- Canonical URL: https://nordicdefencesector.com/en/article/norway-invests-in-ukrainian-defence-industry
- Published: 2026-11-04
- Author: Mikael Berg
- Type: News · Section: Industry · Country: norway
- Language: en — machine translation from sv; the sv version is authoritative: https://nordicdefencesector.com/sv/article/norway-invests-in-ukrainian-defence-industry.md
- Also available in: de (https://nordicdefencesector.com/de/article/norway-invests-in-ukrainian-defence-industry.md), dk (https://nordicdefencesector.com/dk/article/norway-invests-in-ukrainian-defence-industry.md), es (https://nordicdefencesector.com/es/article/norway-invests-in-ukrainian-defence-industry.md), fi (https://nordicdefencesector.com/fi/article/norway-invests-in-ukrainian-defence-industry.md), fr (https://nordicdefencesector.com/fr/article/norway-invests-in-ukrainian-defence-industry.md), it (https://nordicdefencesector.com/it/article/norway-invests-in-ukrainian-defence-industry.md), no (https://nordicdefencesector.com/no/article/norway-invests-in-ukrainian-defence-industry.md), pl (https://nordicdefencesector.com/pl/article/norway-invests-in-ukrainian-defence-industry.md)
- Primary source: https://www.regjeringen.no/no/aktuelt/regjeringen-styrker-norske-investeringer-i-ukraina-med-1-milliard-kroner/id3190722/
- Tags: norway, ukraine, defence industry, investinor, nansen programme, russian aggression

> Norway's government proposes allocating one billion Norwegian kroner to investments in Ukrainian defence industry. The initiative is intended to free up more private capital.

![Ukrainian soldiers prepare FPV drones in Donetsk oblast, July 2023. Archive image.](https://imagedelivery.net/XO8UY-c6-LfWgEjQsN8IQw/fb6d0f68-232b-43d8-7fee-060d42650a00/public)
*Ukrainian soldiers prepare FPV drones in Donetsk oblast, July 2023. Archive image. · ArmyInform*

**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](https://www.regjeringen.no/no/aktuelt/regjeringen-styrker-norske-investeringer-i-ukraina-med-1-milliard-kroner/id3190722/) 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.

## FAQ

**How much money does Norway want to invest in Ukrainian defence industry?**

The Norwegian government proposes allocating one billion Norwegian kroner over three years to investments in Ukrainian defence industry. The funds are taken from the military component of the Nansen Programme and will be deployed together with Norwegian business, according to a press release from the government dated 3 November. Last fact-checked: 2026-11-04.

**Who will manage the Norwegian investments in Ukraine?**

The state-owned investment company Investinor will manage the scheme. The initiative targets funds operating in Norway that invest in Ukrainian defence industry. Finance Minister Jens Stoltenberg argues that state contributions can mobilise private Norwegian capital for investments in Ukrainian industry and technology. Last fact-checked: 2026-11-04.

**Why does the Norwegian Defence Minister link the initiative to Norway's own security?**

Defence Minister Tore O. Sandvik says that developing Ukrainian defence industry contributes to deterrence even after a potential ceasefire. The initiative could also further develop cooperation between Norwegian and Ukrainian defence industry, which he describes as being in Norway's security interest. Last fact-checked: 2026-11-04.

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