Ukroboronprom estimates investment to transfer production to NATO standards by 2018 at UAH 20 bln

17:57, 18.02.2016 1 min read

The need for investment to transfer production of weapons and military equipment at the facilities of Ukroboronprom State Concern to NATO standards until 2018, according to preliminary estimates, stands at more than UAH 20 billion.

Head of the state concern Roman Romanov announced this at Ukrainian Defense and Security Forum 16 under the patronage of the Defense Ministry and Ukroboronprom in Kyiv.

"According to the most conservative estimate, UAH 21 billion is required for this purpose," he said.

Romanov said that among the key criteria for implementing the task of transition to NATO standards are a further development of technological cooperation with foreign partners, the promotion of the started reforms in the defense sector, primarily in the field of fight against corruption.

The Ukroboronprom head also noted the agreements achieved with NATO in early 2015 on Ukraine's accession to the alliance's current procurement system.