Denmark sets up $1B fund to aid Ukraine

The Danish government announced to set up a relief fund of 7 billion Danish crowns ($1.01 billion) to assist Ukraine for its military, civil and business needs for this year, Foreign Minister Lars Lokke Rasmussen told reporters in a press conference.

The Ukraine fund, established with the support of parliamentary parties, will give 5.4 billion crowns for military aid, 1.2 billion crowns toward civilian aid and 0.4 billion crowns for business initiatives.

The Ukraine fund was endorsed by 159 of 179 members of Parliament -- and opposed by the parliamentary parties: Unity List and Alternatives.

"This is largely a reflection of the wishes Ukraine has, which in addition to the military and the humanitarian aid are now also about reconstruction," Rasmussen said at the floor of the parliament. The government is preparing for closer cooperation with the Danish business community on the reconstruction of Ukraine, and reconstruction efforts are already underway, he added.

"We can't wait for the last shot to be fired," Rasmussen said.

Meanwhile, Denmark has also pledged to send 21 bomb disposal robots to Ukraine under the military aid along with ammunition for small arms, machine guns, anti-armor mines and air defense missiles. In addition, sets of rain gear and hangar tents will also be sent.

The Danish government has announced that the military has begun preparing the aid packages and it will be sent to Ukraine as soon as possible.