Prime Minister: we are creating an investment fund to accelerate the development of the Estonian defence industry

Published on May 9, 2024



Stenbock House, 2 May 2024 – The government supported the proposal of Prime Minister Kaja Kallas to create a defence industry fund which would invest directly and through private funds in companies developing defence-related or dual-use technologies. The initial volume of the fund will be 50 million euros, which can be increased, if the fund proves successful. The fund is planned to be launched in 2024.

“We decided with the government to create a defence industry fund in the extent of 50 million euros which will strengthen Estonia’s security and help boost the economy,” said Prime Minister Kaja Kallas. “Estonia has a very highly developed technology sector, but there is a market failure in the use of this capacity to increase our national security. The state can help with seed funding here. The support of the fund will provide the Estonian defence industry companies an opportunity to develop and bring innovative products to the market. In addition to strengthening the Estonian security, the creation of the fund also means creating jobs with a high added value, as well as an even faster development of the Estonian technology sector, which is already remarkable now.”

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