EU approves addition of 3.5 billion euros to fund used for military aid to Ukraine: details
On Monday, June 26, the Council of the European Union decided to increase by 3.5 billion euros the European Peace Fund, through which, among other things, military aid is allocated to Ukraine.
This is reported on the website of the EU Council. European Union High Representative for Foreign Affairs and Security Policy Josep Borrel noted that this is the second increase in funding for the European Peace Facility since its creation in 2021.
"Today's decision will once again provide us with the funding to continue to provide concrete military support to our partners' armed forces. In less than two years, the fund has proven its effectiveness. It has completely changed the way we support our partners in defense. It makes the EU and its partners stronger," he said.
Previously, the size of the fund was about 7.9 billion euros, but now it is more than 12 billion.
The decision sends a "clear political signal" of the EU's continued commitment to military support for both Ukraine and other partners, the EU Council said in a statement.
According to Bloomberg, the fund's previous budget is almost all spent.
As reported by OBOZREVATEL:
- In May, Borrell proposed adding 3.5 billion to the peace fund, which required the approval of EU national governments.
- On June 26, Australia announced its intention to allocate a new $73.5 million aid package to Ukraine. It will include 70 military vehicles.
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Josep Borrell
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