Plus 2 billion euros: the EU has increased the fund from which it finances weapons for Ukraine

"Ensuring the financial stability of this instrument is crucial for our support not only of Ukraine but also of our partners in other parts of Europe, Africa and the Middle East, as their needs continue to grow," said EU -Foreign and Security Policy, Josep Borrel, EU representative. .

This decision implements a political agreement reached on December 12, 2022, when the EU countries decided to increase the total financial ceiling of the EFM by 2 billion euros (at 2018 prices) in 2023 and to provide for further increase at a later stage. The European Peace Fund was established in March 2021 to finance all joint foreign and security measures related to military and defense issues, in order to prevent conflicts, maintain peace and strengthen international security and stability.

It 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 issues. EFM is an extrabudgetary tool and initially had a total financial limit of 5 billion euros at 2018 prices for the period 2021-2027 with annual limits from 420 million euros in 2021 to € 1. 132 billion in 2027.

Thanks to the EU Foundation, it supports the Armed Forces of Ukraine within seven consecutive support packages, as well as many other countries: Mozambick, Georgia, Moldova, Mali, Somalia, Niger, Jordan, Bosnia and Herzegovina, Lebanon and Mauritania. On March 8, the Lithuanian Defense Minister stated that the country strongly urges the European Union to intensify efforts to jointly procure additional 155 mm artillery ammunition for Ukraine.

London and Paris seek to provide the Armed Forces of Ukraine with additional support that is needed to have a decisive advantage on the battlefield. French President Emmanuel Macron and the head of the British Government Richa Snak discussed this issue at a joint meeting on March 10. It is also known that US President Joe Biden proposed to approve the country's record defense budget. It provides assistance to Ukraine. The Pentagon will be able to develop new weapons in greater quantities.