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Following negotiations with the Council of the EU, the European Parliament adopted the plans on July 13 to increase the EU ammunition and missile production to tackle Ukraine's shortages, allocating 500 million euros ($560 million).
The Act in Support of Ammunition Production (ASAP) aims to increase the production capacities of ammunition and missiles and to speed up delivery to the Ukrainian military.
ASAP is part of the EU's plan first presented early this year to deliver $2.2 billion worth of artillery rounds to address Ukrainian shortages. The shipments should include both current stocks and newly produced shells.
The Parliament passed the draft bill on ASAP on June 1, after which it was discussed with the Council of the European Union.
The approved version is the result of the agreement between the Council and the Parliament. Based on the negotiations, Members of the European Parliament (MEP) ensured that ASAP covers a more diverse range of projects and that smaller and medium-sized businesses would be eligible for a higher funding rate.
According to the media release, the MEPs also pushed to ensure that EU countries will provide Ukraine with the ammunition funded under this legislation, without it being subject to export restrictions.
The EU's plan to increase its production capacities has been plagued with bureaucracy and the protectionism of individual member states. According to an investigation by the Kyiv Independent and its partners, several European countries seek to use the project to promote their domestic industry.
The MEPs, however, appear confident that the adoption of ASAP is a step in the right direction: "Today's vote marks another step forward for Europe's security and defense and in our steadfast support of Ukraine in the face of the ongoing Russian aggression," said the leader of the Parliament's negotiating team Cristian Busoi.
"We delivered on the most urgent aspect of the law: ensuring the provision of more ammunition for Ukraine. It is a testimony of Europe's solidarity and for our collective security."
The legislation was adopted with 505 votes to 56, with 21 abstentions. It still needs to be endorsed by the Council in order to become law.