The Danish government has announced plans to bolster its military by setting up a 50 billion-kroner ($7 billion) fund that it says will raise the country’s defense spending to more than 3% of gross domestic product this year and next.

Denmark said on Monday it would spend 14.6 billion Danish kroner ($2.05 billion) boosting its military capabilities in the Arctic – a decision that comes amid continuing furor following US President Donald Trump’s renewed interest in controlling Greenland,

Denmark plans to accelerate its defense modernization by spending an additional 50 billion krone ($7 billion) in 2025 and 2026, the country’s government has announced. Copenhagen will create an Acceleration Fund to enable faster procurements to support the country’s defense and security.

Buy, buy, buy." After decades of drastic cuts in defence spending, Denmark last year allocated and extra 190 billion crowns for its military over a 10-year span. The capabilities would be purchased without going through the normal lengthy tender procedures,

Denmark announced its biggest military investment in half a century, speeding up arms purchases by dropping the usual tender processes and enabling the head of the armed forces to decide how the money is spent.