Netherlands to invest more than $500 million in defence industry and assistance to Ukraine

The Dutch government has announced serious steps to stimulate domestic defence production and increase assistance to Ukraine.

Here's What We Know

It includes investments of $432 million to produce infantry fighting vehicles for Ukraine and for domestic use. In addition, Amsterdam has allocated $27 million for defence start-ups and $58 million for the production of drones.

A total of 180 (out of 230) CV90 infantry fighting vehicles will be produced in the country under the Swedish initiative, NOS reports, citing Defence Minister Kajsa Ollongren.

It is worth noting that Sweden has already promised to supply Ukraine with 50 CV90s, having received $1.8 billion 264 million from Denmark for this initiative.

"European production capacity should be increased for Ukraine, but also for ourselves," Ollongren was quoted as saying by the Dutch media.

Source: NOS