This week, western allies are pledging fresh support for Ukraine. On Wednesday, US President Joe Biden announced another $425mn in military aid, rushed through before the election in November.
Separately, Australia announced it will send 49 of its old Abrams tanks. And with Volodymyr Zelenskyy, Ukrainian president, now touting a multi-part “victory plan” at an EU summit, more donations of equipment may materialise soon.
This is welcome — albeit shamefully far short of the support that Ukraine needs to win the war. However, as Zelenskyy begs for more help, there is another aspect of this that has hitherto been largely overlooked: the need for private and public capital for Ukraine’s own defence industry.
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