Norway allocates $107.6 million for investment in Ukraine

Norway's government said on Tuesday it was allocating 1 billion Norwegian crowns ($107.6 million) for investments in Ukraine in partnership with Norwegian businesses, Report informs, citing Reuters.

The funding aims to attract additional Norwegian private capital into Ukraine's defense industry, the government said in a statement.

"Norwegian investments can help the Ukrainian defense sector to develop even more rapidly," Industry and Commerce Minister Cecilie Myrseth said.

Norway's state-owned investment company Investinor will manage the initiative.