The EU increases funding for military aid

According to the European Council statement, it was decided to increase the ceiling of the fund to 7,970 million euros until 2027 to cover additional needs.

In his speech on the subject, the EU High Representative for Foreign Relations and Security Policy, Josep Borrell, stated that the fund has become part of the “EU support for world peace and security”.

“Ensuring the financial sustainability of this tool is vital to our support not only to Ukraine but also to our partners in other parts of Europe, Africa and the Middle East as needs arise,” Borrell said. he used the phrase.

Member countries contribute to the Fund on the basis of their gross national income. The fund has been used for 6 arms aid packages to Ukraine so far. 86% of the fund has been committed by 2022. For this reason, the EU administration wanted to increase the fund, which was on the verge of exhaustion.

EU countries agreed late last year to increase the fund by €2 billion in 2023 and €5.5 billion in 2027. The EU provides military aid to Ukraine using a financial instrument called the European Peace Fund, which is excluded of your own budget. The size of the fund in the period 2021-2027 was 5 billion.

The fund was also used to support African countries such as Mozambique, Niger and Mali, as well as Georgia, Moldova and the Western Balkan countries, for support such as non-arms military material aid. (AA)