Latvia joins the creation of Drone Coalition common fund

Latvia has joined in the creation of the Drone Coalition common fund to provide military support to Ukraine in the form of weapons and to develop the drone industry. The fund was launched by members of the Drone Coalition - an organization, led by the United Kingdom and Latvia. The Drone Coalition consists of 16 countries, including Estonia and Lithuania. 

Latvia, the UK, Denmark, New Zealand, the Netherlands, and Sweden have already invested €58M in the fund. This investment will be used, for instance, to finalize agreements with the manufacturers of the drones. The Drone Coalition has announced an industry tender for First Person View (FPV) drones. The Coalition has assessed 265 bids and more than 400 companies, including Latvian ones, have expressed their interest in participating in the competition. Contracts are expected to be signed by August this year. 

Latvia and Germany have also agreed to jointly procure drones. These countries will offer other members of the Drone Coalition to sign contracts with drone manufacturers in Latvia and Germany. According to Latvian Defence Minister Andris Sprūds, these companies will include manufacturers of reconnaissance drones, armed drones, drones equipped with artificial intelligence, etc.