June 6, 2026, 6:54 p.mJune 6, 2026, 6:54 p.m
Workers inspect newly completed Flamingo rockets in Kyiv. (Archive image, 2025)Image: keystone
Ukraine sees its defense industry as a lasting source of economic strength. The war-torn country hopes to receive its first funds from a European Union loan of 90 billion euros in June, which will also be used for armaments purposes.
«The demand we created in Ukraine has created an industry that is now practically booming. Therefore, it is a very important part of our future,” said Finance Minister Serhiy Marchenko at the annual meeting of the Bank for Reconstruction and Development (EBRD) in Riga.
What is now crucial is to strengthen the industry, give it development capacities and open up the military potential to a broader market. In addition, Ukraine is faced with the decision to allow the export of military goods.
According to Martschenko, by expanding and exploiting the potential, not only further progress could be achieved in military equipment and weapons. «I believe these developments can help create a natural civil environment after the war. Because part of the production that we currently use for military purposes can also be used for civilian purposes,” said the Ukrainian Finance Minister.
Ukraine is defending itself against a Russian invasion with Western help – and is considered a world leader in drone combat in the fifth year of the defensive campaign. At the same time, the government in Kiev hopes to receive the first funds from a European Union loan of 90 billion euros in June, which will also be used for armaments purposes. Given the ongoing war, it is quite problematic and difficult to attract private investors, Marchenko said. (sda/dpa)