The Norwegian government will allocate NOK 1 billion — approximately $107.6 million — to investments in Ukraine’s defense industry. The funding will be deployed in partnership with Norwegian businesses to attract additional private capital into Ukraine’s defense technology sector.
The investment program will run for three years. Funding will come from military assistance already allocated under Norway’s Nansen Support Programme for Ukraine. The investment mechanism will be managed by Investinor, Norway’s state-owned investment company.
In its initial phase, the program will focus on investment funds operating in Norway that invest in Ukraine’s defense sector. Decisions on fund selection and investment allocations will be made by the program manager, while individual investment decisions regarding companies will be handled by private fund managers. In the future, the initiative may also expand to include direct investments in Ukrainian companies.
The Norwegian government notes that Ukrainian defense companies are at the forefront of several technological fields and that increased investment could accelerate the industry’s development. The initiative is also intended to strengthen cooperation between the defense industries of Norway and Ukraine.
