The European Commission allocated 500 million euros for the production of ammunition from a total budget of two billion euros to strengthen the Union’s defense industry.
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The press service of the European Commission reported this on March 15.
This is expected to allow the European defense industry to increase its ammunition production capacity to two million rounds per year by the end of 2025.
Let us recall that on March 13, EU ambassadors supported the allocation of 5 billion euros for military assistance to Ukraine.
The money will be transferred to the European Peace Fund, from which arms supplies to Ukraine are financed, the Belgian Presidency of the EU Council said.
They added that the European Union remains determined to provide long-term support to Ukraine and “ensure that it receives the military equipment necessary for self-defense.”
Source: Racurs
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