With today’s decision, the EPF’s fiscal ceiling will exceed a total of €17 billion for the period up to 2027
Military support to Ukraine through the European Peace Mechanism was approved today by the EU member states, deciding providing an additional 5 billion euros.
Specifically, the EU Council decided to increase the financial ceiling of the European Peace Fund (EPF) by 5 billion euros for Ukraine, establishing eto special Aid Fund for Ukraine (UAF) under EPF.
The newly created Aid Fund for Ukraine will allow the EU to further support the evolving needs of the Ukrainian Armed Forces through the provision of lethal and non-lethal military equipment and training. This Fund complements the bilateral efforts of EU member states and focuses on increased joint procurement by the European and Norwegian defense industries.
After today’s decision,the EPF fiscal ceiling will exceed €17 billion in total for the period 2021-2027.
The EU High Representative, Josep Borrell expressed his satisfaction with this decision stating:
“The EU keeps its commitments. The Ukraine Aid Fund turns our words into action. With the fund, we will continue to support Ukraine to defend itself against Russia’s war of aggression with whatever it takes and for as long as it takes.”
The #FAC approved my proposal for a €5 billion #UkraineAssistanceFund.
The Fund will support Ukraine in getting the military equipment it needs to defend its people & its right to exist as a state against Russian aggression.
We turn our words into action.https://t.co/u3ojO4YySW— Josep Borrell Fontelles (@JosepBorrellF) March 18, 2024
#Provision #additional #billion #Ukraine #Special #Aid #Fund #established
2024-03-21 02:18:21