Sweden will allocate 729 million Swedish kronor (approximately $68 million) in military aid to Ukraine, Stockholm announced on October 28.
This information was revealed during a meeting of Northern European leaders in Iceland at the fourth Ukraine – Northern Europe summit, where President Volodymyr Zelensky engaged in discussions with the Prime Ministers of Iceland, Sweden, Denmark, Norway, and Finland.
From the total amount of $68 million, around $46.5 million will support initiatives for the Armed Forces of Ukraine, the Swedish government reported.
An additional $21.6 million will be allocated to the development of the Ukrainian defense industry.
The first portion of the funds may be directed to the coalitions established to support the Ukrainian army, including fighter jets, maritime security, demining, and IT.
The remaining $21.6 million is designated for the development of the defense industry following the "Danish model" – a mechanism based on a Danish-Ukrainian agreement that provides Kyiv with weapons through direct purchases from the Ukrainian defense industry.
Earlier this year, Ukraine produced 18 "Bohdana" howitzers thanks to funding under the Danish model.
Sweden officially joined NATO in March 2024 after a lengthy application process following Russia's invasion of Ukraine.
After joining the alliance, Sweden immediately began actively urging other member countries to do more to support Kyiv.
In May, the Swedish government announced plans to allocate 75 billion Swedish kronor ($7 billion) to Ukraine for military support from 2024 to 2026.
On September 9, Sweden announced a package worth $443 million, which included combat boats, anti-tank weapons, ammunition, and spare parts for Gripen fighter jets.
The Swedish Ministry of Defense stated at that time that transferring Gripen aircraft to Ukraine is currently "not a viable option, as it would hinder the priority use of F-16 fighters," but Stockholm continues its efforts to create conditions for sending Gripen to Kyiv in the future.