European Union nations have come together to bolster Ukraine’s military capabilities with a significant €5 billion ($5.5 billion) increase in military aid. This crucial funding will help Ukraine acquire weapons and ammunition for its fight against Russia’s invasion.
The additional support will be channeled through the European Peace Facility, a financial instrument established by the EU specifically to provide military assistance to Ukraine. The decision follows months of negotiations between member states, who ultimately reached a compromise on how the funds will be distributed.
We made it: #Coreper agreed on the #UkraineAssistanceFund.
The Fund will allow us to step up our military support to #Ukraine with another €5 billion.
The message is clear: we will support #Ukraine with whatever it takes to prevail.#EuropeanPeaceFacility
— Josep Borrell Fontelles (@JosepBorrellF) March 13, 2024
The EPF has already been used to allocate some €6.1 billion for military aid to Ukraine, and diplomats said the compromise would help finance a Czech initiative to purchase artillery shells from countries outside Europe for Ukraine.
“This is a powerful and timely demonstration of European unity,” declared Ukraine’s Foreign Minister Dmytro Kuleba, welcoming the EU’s commitment. This €5 billion boost signifies the EU’s unwavering stance in supporting Ukraine’s defense efforts.
Also See:
