Denmark announces $2.1 billion Arctic military investment plan

COPENHAGEN (Reuters) - Denmark said on Monday it would spend 14.6 billion Danish crowns ($2.05 billion) boosting its military presence in the Arctic, following renewed interest by U.S. President Donald Trump in controlling Greenland, a semi-autonomous Danish territory.

The broad political agreement includes funding of three new Arctic navy vessels, two additional long-range drone and satellites for improved surveillance, Defence Minister Troels Lund Poulsen said at a press conference.

Following more than a decade of drastic cuts in defence spending, last year Denmark allocated 190 billion Danish crowns ($26 billion) for its military over a 10-year span, some of which will be for the Arctic.

The deal presented on Monday set aside a portion of that budget to the Arctic region. The political parties agreed to negotiate more funding for the military Arctic later this year.

($1 = 7.1158 Danish crowns)

(Reporting by Jacob Gronholt-Pedersen; Editing by Alex Richardson)