UKRAINE, Nov. 4 — The Norwegian government announced a launch of a new program of joint investments in the Ukrainian defense industry with local businesses, allocating 1 billion Norwegian krones ($107 million) over three years, the Norwegian government reported on its official website.

Tore O. Sandvik, Minister of Defense of Norway, said that “it is crucial that we help to develop the Ukrainian defense industry. Even after a ceasefire has been reached, these efforts will enhance deterrence. It is also in the interests of Norwegian security.”

The funding is to be taken from the military support already allocated under the Nansen Support Programme for Ukraine.

The state-owned investment company Investinor will manage the program, selecting funds operating in Norway that invest in the Ukrainian defense industry and determining the scope of investments. The managers of these funds will decide which specific Ukrainian companies will receive investments.

In the future, the program may also include direct investments in Ukrainian companies in partnership with funds.

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