EU to consider adding EUR 3.5 billion to fund that finances military aid to Ukraine

21 March, 01:50 PM
Flags of the European Union (Photo:REUTERS/Yves Herman)

Flags of the European Union (Photo:REUTERS/Yves Herman)

The EU Council has agreed to consider committing a further EUR 3.5 billion to the European Peace Facility, according to the European Union's chief diplomat, Josep Borrell, Ukrainian news agency UNIAN reported on March 20.

"The Council has also agreed to consider a further increase of the overall financial capability of the EPF by EUR 3.5 billion ($3.8 billion)," Borrell said.

“I’m not saying (that) the Council has agreed on increasing it, but on considering this further increase, which is the first step for that.”

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On March 14, the Council of the European Union supported a EUR 2 billion ($2.1 billion) increase in the European Peace Facility, which allocates money for the purchase of weapons for Ukraine. The financial ceiling of the European Peace Fund was increased to EUR 7.979 billion ($8.562 billion) until 2027.

On March 8, EU ambassadors also approved an additional EUR 2 billion for the EPF.

On March 20, EU foreign ministers approved a EUR 2 billion plan to supply Ukraine with ammunition.

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