Denmark plans to invest $5.5 billion in new warships development

Europe, News August 21, 2022 , by IRIA No Comments

Denmark announced its new investment policy regarding the modernization of its naval fleet. The NATO member state plans to invest 40 billion Danish crowns ($5.5 billion) in new warships.

Denmark plans to gradually increase its defense spending by 2% each year in upcoming years. The maritime development investment plan would allow Denmark to spend $5.5 billion in the next 20 to 25 years. The Scandinavian country is ready to start building its own warships.

According to Denmark’s Defense Minister Morten Bodskov, the country plans to develop new warships and upgrade its naval fleet to boost its defense as well as the maritime industry.

Denmark’s actions to improve its defensive position come as a reaction to Russia’s invasion of Ukraine. “With Russia’s attack on Ukraine and the new security situation in Europe, it is more important than ever that Denmark is able to defend itself. Security of supply plays a decisive role here,” Bodskov said in his statement on August 18.

“We are facing a serious situation in Europe. There is war in Europe. We have just been through a corona pandemic, and common to both is that it has created problems for our security of supply,” Bodskov told reporters. “It is not viable, especially in times of war in Europe, for the Danish defense to have problems getting ships and other equipment built,” he added.

Denmark’s Defense Minister Bodskov did not disclose the exact number of warships that Denmark plans to add to its naval fleet, however, he stated that most of Denmark’s naval fleet comprises patrol ships and smaller vessels for coastal rescue operations. He cited that there is a dire need to upgrade the country’s naval fleet with large warships and frigates, especially amid the rising tensions in Europe.

*^{Denmark’s Defense Minister Morten Bodskov. (Image Credit: Twitter/Morten Bødskov)}*

Although Russia has not directly threatened to take any military actions against Denmark, the Scandinavian state remains one of the few European countries that have been directly affected by the Russian invasion of Ukraine. Denmark relies hugely upon Ukraine for many of its agricultural supplies. Since the Russian invasion of Ukraine started, the country is facing an unprecedented hike in prices and food shortage.

Denmark is providing Ukraine with military and humanitarian support. On 11 August, Denmark’s Prime Minister Mette Frederiksen announced a new comprehensive donation package of $11 million to finance weapons and training for Ukrainian soldiers. The announcement came during the donor’s conference in Copenhagen, where 26 countries met to gather humanitarian and military aid for Ukraine.