Greenland on Thursday said it had accepted an offer of $12.1 million in funds from the US for civilian projects in its massive and coveted Arctic territory.

The money would primarily be used for projects that will "benefit the economic development of Greenland," the territory's government said in a statement, including in the mineral industry, tourism and education.

The US, which received the green light from Copenhagen in December to set up a consulate in the Greenlandic capital Nuuk, will be able to increase its presence in the region thanks to the money.

"We want a secure and stable Arctic where US interests are safeguarded," a senior US state department official said during a press briefing.

In August 2019, US president Donald Trump floated the idea of buying Greenland, which currently operates as an autonomous territory under Denmark.

Greenland has its own parliament, but foreign relations are run by Copenhagen and its economy relies heavily on Danish subsidies.

Because of its natural resources -- including oil, gas, gold, diamonds, uranium and zinc -- and the prospesct of new maritime routes as a result of global warming, Greenland has attracted the interest of major powers, mainly the United States, China and Russia.

"We also have concerns about Russia's military buildup in the Arctic. Its presence has grown dramatically in recent years", the US official said.

He added that the economic aid should not be taken as "designed to pave the way to purchase Greenland".

Jon Rahbek-Clemmensen, a professor at the Royal Danish Defence College, told AFP that the money would be a welcome aid to help Greenland's "precarious economic situation," while allowing the US to protects its interests in the Arctic.

"By investing in education, tourism, and resource extraction, Washington hopes to strengthen its relationship to Greenland in order to counter what it sees as Russian and Chinese encroachments," Rahbek-Clemmensen said.

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