Ukraine’s defense industry draws $1.5 billion in foreign Investment through ZBROYARI project
Minister of Strategic Industries Herman Smetanin says that over the past year, international partners invested more than $1.5 billion in the development of Ukraine’s defense industry as part of the ZBROYARI: Manufacturing Freedom project, Ukrinform reports.
The ZBROYARI global fundraising campaign was first introduced in April 2024. The project, launched with the support of the Office of the President of Ukraine and the Ukrainian government, aims to raise $10 billion for the production of Ukrainian-made weapons in 2024. Denmark was the first country to allocate funds for the purchase of Ukrainian weapons for the Armed Forces of Ukraine.
“ZBROYARI: Manufacturing Freedom attracted over $1.5 billion to Ukraine’s defense industry from foreign partners in 2024,” said the minister.
According to Smetanin, nine countries—Denmark, Canada, the Netherlands, Lithuania, the United Kingdom, Sweden, Norway, Iceland, and the United States—as well as the European Union, participated in the initiative.
The contributions were made either from national budgets or through a percentage of frozen Russian assets. The minister specified that more than $500 million was allocated using the Danish model.
The Danish model for Ukraine, initiated in 2023, is a strategic defense cooperation framework that enables partner countries to purchase weapons directly from Ukraine’s defense industry. This system aims to enhance Ukraine’s domestic arms manufacturing capabilities while providing timely military support amid Russia’s war.
Earlier, Ukraine’s Ministry of Defense said that in 2024, the country’s military received weaponry worth nearly €538 million through Danish model agreements.
In 2024, the funding sources for Ukraine’s defense industry included €125 million from Denmark through its national Ukraine Fund, €20 million from Sweden, €2.7 million from Iceland, and €390 million from interest on frozen Russian assets.
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- Foreign Affairs: Kyiv must show president-elect Russian victory harms his interests
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