EU announces €200 million investment package for Greenland
The European Union has announced a €200 million investment package for Greenland. Over the next two years, the funds will be directed toward digital connectivity, clean energy, critical raw materials and projects to improve living conditions for the population, Anadolu Agency reports.
Declaration in Nuuk
European Commission President Ursula von der Leyen presented the package during a visit to Nuuk. Together with Greenlandic Prime Minister Jens-Frederik Nielsen and Danish Prime Minister Mette Frederiksen, she took part in the signing of a new joint declaration on relations between the EU and Greenland.
According to von der Leyen, the investments are intended to strengthen Europe’s presence in Greenland and contribute to job creation, economic growth and new opportunities for local residents.
More current news is available on the UA.News Telegram channel Telegram.
Connectivity and raw material extraction
The EU will also allocate around €9.1 million over five years for satellite internet in East and North Greenland. Denmark will co-finance the project. It is expected to improve the speed, reliability and resilience of internet connectivity in remote settlements, schools and businesses.
Separately, the EU and Greenland plan to develop sustainable mineral extraction projects linked to European industry. Support includes technical analysis and assistance in establishing contacts with investors. Von der Leyen mentioned the Malmbjerg molybdenum project, which, if successfully implemented, could generate up to €90 million in added value for Greenland annually.
The head of the European Commission said Brussels is preparing a new EU Arctic strategy, which is planned to be presented in the autumn. She also stressed support for Denmark and Greenland and noted that only the island’s residents should determine its future.
