The EU Council will increase the fund that helps Ukraine with weapons by €2 billion
On Monday, December 12, the Council of the European Union agreed on a decision to increase the financing of the European Peace Fund by €2 billion.
This was reported by the press service of the European Council.
It is noted that EU ministers decided to increase the financial ceiling by €2 billion in 2023 with the possibility of further increase.
By 2027, the financial ceiling will be up to €5.5 billion (in 2018 prices).
– Today’s decision will provide us with funding to continue providing concrete military support to the armed forces of our partners. In less than two years, the European Peace Fund has proven its worth. This has completely changed the way we support our partners in defense, – said the head of European diplomacy, Josep Borrell.
The final decision on increasing the fund will be made at the beginning of 2023.
The European Peace Fund was established in March 2021. It is through it that EU countries provide military aid to partners, including Ukraine. The fund reimburses governments for military supplies.
