The EU Commission is proposing a significant increase in financial support for Greenland, allocating 530 million euros for cooperation between 2028 and 2034. This proposal, amounting to almost four billion kroner, aims to bolster Greenland’s economic development, education, digitization, job creation, and green energy infrastructure.

According to EU Commissioner Dan Jørgensen, the funding is intended to empower Greenland’s development on its own terms. The proposed support will be integrated into negotiations for the next multiannual EU budget, requiring approval from both EU countries and the EU Parliament before it can take effect in 2028.

The EU Commission’s proposal, finalized recently, outlines a total framework of nearly 2000 billion euros for the period spanning 2028 to 2034. While Greenland’s allocation represents a small portion of the overall budget, Jørgensen anticipates that it will significantly enhance cooperation between the EU and Greenland.

The funds will be directed towards expanding collaboration in strategically important sectors, including energy, raw materials, digitization, and education. Specifically, the Commission identifies opportunities for cooperation in energy areas such as hydropower, wind energy, and power-to-x. Greenland possesses substantial potential within hydropower, with estimates suggesting it could supply local needs several times over.

The EU funds can provide direct support and attract additional investors, potentially increasing the total investment amount. This proposal aligns with the EU Commission’s objective to double the overall program for overseas countries and territories.

If approved, the overseas territories will collectively receive 999 million euros between 2028 and 2034, with the majority of the funds allocated to Greenland. The remaining funds will be distributed among six other overseas territories belonging to France and the Netherlands.