The Council of the European Union will consider increasing the financing of the fund, with which it finances arms for Ukraine, by 3.5 billion euros.
The defense ministers of EU member states proposed to increase the European Peace Fund, which is used to pay for military equipment and ammunition transferred to Ukraine, by 3.5 billion euros. This is what the head of diplomacy of the association, Josep Borrell, said following the meeting of the EU Council on Monday, March 20.
He recalled that the Council of the European Union approved a plan to transfer one million artillery shells to Ukraine next year, providing for the use of its own stocks, financing by the European Peace Fund and an industrial order.
“In terms of financial volume, we are talking about two billion euros of reimbursement. But the reimbursement concerns about 55%, maximum 60% of the cost. Therefore, in practice, we are talking about Our costs are twice this number,” Borrell added.
He added that, knowing that there will be more needs not only in Ukraine, but also in other countries of the world, the Board also agreed to consider further increasing the total financial capacity of the EMF of 3.5 billion euros.
Borrell pointed out that the Council has definitely agreed to consider a further increase in the volume of the European Peace Fund, a decision has not yet been made.
As reported, EU member states approved the decision to provide Ukraine with 1 million shells over the next 12 months. Borrell called this decision “historic.”
Earlier, Borrell warned that if EU countries do not sign an agreement on the joint purchase of ammunition, they “will face delivery difficulties to Kyiv.”
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Source: korrespondent
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