Investment guarantee for the defence industry in Ukraine

Gain access to the Ukrainian market with reduced risk through EIFO’s investment guarantee targeted at Ukraine. The guarantee can cover up to 70 pct. of the investment’s purchase price, providing you with a more stable basis for investment.

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Invest in Ukraine's defence industry backed by a guarantee scheme

Danish companies now have the opportunity to invest in the defence and security industry of Ukraine with reduced financial risk. EIFO’s investment guarantee, established in April 2025, enables the securing of investments with a military purpose in Ukraine. The scheme has a total budget of DKK 1 billion.

The purpose of the guarantee scheme is to support Danish companies' engagement in the Ukrainian defence sector during a time of increased complexity and uncertainty in the market. The guarantee can cover up to 70 pct. of the investment’s purchase price, thereby contributing to a more stable basis for investment.

At the same time, the guarantee scheme can provide Danish defence companies with access to the latest technologies and operational experience – all developed and tested in combat.

The scheme is ideal for Danish companies that aim to contribute to the build-up of Ukraine’s defence capabilities and sees business opportunities in gaining access to current military experience with technologies and equipment.

Interested in learning more about the investment guarantee?

Danish companies keen on investments in defence investments in Ukraine can submit an expression of interest with information about specific business opportunities to ukrainefond@eifo.dk. You can download the template below.

EIFO will continuously assess whether the business opportunities fall within the framework of the investment guarantee. If so, and funds are available, we will initiate a dialogue about potential financing.

Contact: Dirk Madsen, Senior Consultant
Phone: +45 23410434

Download here

Who can use the scheme?

The scheme is relevant for Danish companies of all sizes – small, medium, and large – as long as they are domiciled in Denmark. Companies can apply for the guarantee scheme if they invest equity in Ukrainian defence companies. This may include investments in existing businesses, new companies, or subsidiaries in Ukraine that are wholly or partly owned by Danish companies.

What is the purpose of the scheme?

To be eligible for EIFO’s investment guarantee, the investment must be made in a company (the risk counterparty) with significant economic activity in Ukraine. This may include companies operating in the defence or security sectors and with direct or indirect ties to Ukraine.

The investment guarantee can be used for a wide range of purposes supporting both the Danish (guarantee recipient) and the Ukrainian (risk counterparty) company’s activities. Specifically, the guarantee can be used to finance development, production, maintenance, or delivery of products, technologies, or services for defence or security purposes. This includes investments in advanced technology and equipment, R&D in the sector, or support for logistics and infrastructure.

FAQ

Find answers to your questions

Here we have compiled a range of frequently asked questions and answers about the investment guarantee for the defence industry in Ukraine.

What is the coverage percentage of the guarantee?

The guarantee covers up to 70 pct. of the subscribed capital or the purchase price of the shares in the Ukrainian defence company.

What are the requirements regarding the size of the investment?

The investment must have a minimum purchase amount of DKK 1 million and result in a direct or indirect ownership stake of at least 10 pct. in the Ukrainian company.

What is the term of the guarantee?

The guarantee can have a term of at least one year and up to a maximum of seven years. The term can be extended upon application, provided the total accumulated term does not exceed seven years.

How is the guarantee fee charged?

EIFO charges a premium as payment for providing the guarantee, and in addition an exit fee or performance fee depending on the potential sale of the ownership stakes.

Can Danish companies take out loans from EIFO to finance their equity investment?

Yes, the Danish company can also apply for a loan to finance up to 70 pct. of the funding for the equity investment in the Ukrainian defence company. The loan can amount to a maximum of the part of the Danish company’s equity investment covered by the state guarantee on equity investments.

What is the term and the conditions of the loan?

The loans have a maximum term of seven years, but not exceeding the guarantee’s term, as the loan is due for repayment upon the expiry of the guarantee regardless of cause. The specific terms are determined by EIFO.

Transparency
Due to confidentiality, EIFO cannot disclose specific details about financed projects. We strive to be transparent and approachable in our communication and encourage interested parties to contact us for more information.

Application
We accept and process applications on a rolling basis.

Executive Order
The investment guarantee is regulated by this executive order and its subsequent amendments.