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Denmark announces $2.1 billion Arctic military investment plan
Published by Global Banking & Finance Review®
Posted on January 27, 2025
1 min readLast updated: January 27, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on January 27, 2025
1 min readLast updated: January 27, 2026
Denmark announces a $2.1 billion military investment in the Arctic, including new navy vessels and drones, amid U.S. interest in Greenland.
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)
Denmark plans to invest 14.6 billion Danish crowns, which is approximately $2.05 billion, to enhance its military presence in the Arctic.
The investment includes funding for three new Arctic navy vessels, two additional long-range drones, and satellites for improved surveillance.
After more than a decade of significant cuts, Denmark allocated 190 billion Danish crowns ($26 billion) for its military over a 10-year period, with some funds designated for Arctic operations.
The investment plan is backed by a broad political agreement, and the parties involved have agreed to negotiate additional funding for military operations in the Arctic later this year.
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