Sayenko Kharenko has acted as Ukrainian legal counsel to Export and Investment Fund of Denmark (EIFO), Denmark’s official export and investment fund, on the inaugural financing transaction under its investment guarantee scheme for the defence industry in Ukraine, launched in 2025. The transaction facilitates an investment by a Danish company into a Ukrainian business operating in the critical sector of defence and electronic warfare.
This landmark transaction is the first to be implemented under the DKK 1 billion guarantee scheme established by the Danish government. The programme is a strategic initiative designed to de-risk and incentivise private sector investment into Ukraine’s defence capabilities. By offering a state-backed guarantee that can cover up to 70% of an investment’s value, EIFO is creating a viable commercial pathway for Danish technology and capital to integrate with Ukraine’s defence innovation and manufacturing. Danish companies can also apply for a direct loan from EIFO to finance the guaranteed portion of their equity investment, further lowering the barrier to entry. The scheme is open to Danish companies making equity investments of at least DKK 1,000,000 for a minimum 10% stake in a Ukrainian partner.
Eligible investments must be directed towards Ukrainian companies with substantial in-country economic activity. The guarantee is designed to finance activities across the full defence lifecycle from R&D and advanced technology production to maintenance, logistics and infrastructure support.
“We are immensely grateful to EIFO and the people of Denmark for their visionary and practical support for Ukraine’s defence industry,” commented Anton Korobeynikov, partner at Sayenko Kharenko. “It was an honour to advise on the pioneering transaction that activates the investment guarantee scheme. By mitigating investment risk, this programme creates a meaningful stimulus for Danish companies to invest in Ukrainian innovation on the ground.”
Sayenko Kharenko team advising on the transaction was led by Anton Korobeynikov and included Vladyslava Mitsai and Artem Medvetskyi.
