Finland’s Ministry of Defense is launching a new program by increasing orders for its domestic defense industry to support Ukraine.
This is said in a statement published on the ministry’s website, Ukrinform reports.
It is noted that the government will discuss the budget proposal of the Ministry of Defense for additional funding of the Finnish defense industry in the amount of EUR 660 million to support Ukraine.
It is noted that the government will discuss the MoD budget proposal for a new EUR 660 million funding package for its defense industry to support Ukraine.
“So far, we have supported Ukraine mainly through stock transfers, but in the future, we will order a significant share of our materiel from domestic companies,” said Minister of Defense Antti Häkkinen.
He added that this decision will strengthen Ukraine’s prospects to achieve a just peace, and the Finnish defense industry will be provided with orders for the long term.
The new support program has been developed under Finland’s MoD leadership since last autumn. The development included contacts with companies and negotiations with international partners, including Ukraine. The products will be delivered to Ukraine as part of future aid packages.
In the coming weeks, a roundtable meeting will be convened under the MoD chairmanship to discuss financial issues with manufacturers in more detail.
As reported, on February 26, the Verkhovna Rada of Ukraine ratified a framework agreement between Ukraine and Finland on projects financed under the Finland‒Ukraine Investment Facility.
Photo credit: President’s Office
Source: Finland to order materiel worth EUR 660M from its defense industry for Ukraine
