Help us serve you better. Take a survey now

Take survey
Skip to content
Edit post

EU Council increases ceiling for Ukraine military aid fund by 2 billion euros

by The Kyiv Independent news desk March 14, 2023 5:47 PM 1 min read
This audio is created with AI assistance

Support independent journalism in Ukraine. Join us in this fight.

Become a member Support us just once

The Council of the European Union decided on March 14 to increase the financial ceiling of the European Peace Fund (EPF), from which funds are allocated for the purchase of weapons for Ukraine, to 7.9 billion euros ($8.4 billion) by 2027.

This will ensure the possibility of covering additional financial needs, stated the press release of the Сouncil.

The European Peace Fund was established in March 2021 to finance all actions of the Common Foreign and Security Policy related to military and defense matters, with the aim of preventing conflicts, preserving peace and strengthening international security and stability.

In particular, the fund allows the EU to finance measures aimed at strengthening the potential of non-EU countries, as well as regional and international organizations in military and defense matters.

“The European Peace Fund has become an integral part of the EU's support for strengthening peace and security around the world," said Josep Borrell, EU High Representative for Foreign Affairs and Security Policy.

"Ensuring the financial sustainability of this instrument is crucial for our support not only of Ukraine, but also our partners in other parts of Europe, Africa and the Middle East, as their needs continue to grow.”

This decision implements a political agreement reached on 12 December 2022, when EU member states voted to increase the total financial ceiling of the EMF by 2 billion euros ($2.1 billion) in 2023 and provide for the possibility of further increases at a later stage.

In the beginning of February, the Council of the EU approved the seventh tranche of military aid for Ukraine with funds from the European Peace Facility, as well as the allocation of funds for the work of the EU training mission for Ukrainian military personnel.

FT: Ukraine appeals to EU to provide 250,000 artillery shells per month
Support independent journalism in Ukraine. Join us in this fight.
Freedom can be costly. Both Ukraine and its journalists are paying a high price for their independence. Support independent journalism in its darkest hour. Support us for as little as $1, and it only takes a minute.
visa masterCard americanExpress

News Feed

Ukraine Daily
News from Ukraine in your inbox
Ukraine news
Please, enter correct email address
6:58 AM

US expands sanctions against Belarus.

The latest sanctions package targets entities that profit from Russia's war in Ukraine, including a state-owned machine tool building company, a radio communications firm, and a software development company.
1:20 AM

Zelensky: Allies can defend Ukraine in the same way as they protected Israel.

"By defending Israel, the free world demonstrated that unity (among allies) is not only possible but 100% effective," Zelensky said after a meeting with top military and security officials . "The allies' decisive actions prevented the success of terrorism and loss of infrastructure and forced the aggressor to cool down."
MORE NEWS

Editors' Picks

Enter your email to subscribe
Please, enter correct email address
Subscribe
* indicates required
* indicates required
Subscribe
* indicates required
* indicates required
Subscribe
* indicates required

Subscribe

* indicates required
Subscribe
* indicates required

Subscribe

* indicates required
Subscribe
* indicates required
Successfuly subscribed
Thank you for signing up for this newsletter. We’ve sent you a confirmation email.