The EU High Representative, Josep Borrell, expressed his satisfaction with this decision
EU member states approved the provision on Monday an additional 5 billion euros for the military support of Ukraine, through the European Peace Facility.
The EU High Representative, Josep Borrell expressed his satisfaction for this decision. “The EU keeps its commitments. The Ukraine Aid Fund turns our words into action. With the fund, we will continue to support Ukraine to defend itself against Russia’s war of aggression with whatever it takes and for as long as it takes,” he said.
The #FAC approved my proposal for a €5 billion #UkraineAssistanceFund.
The Fund will support Ukraine in getting the military equipment it needs to defend its people & its right to exist as a state against Russian aggression.
We turn our words into action. https://t.co/u3ojO4YySW— Josep Borrell Fontelles (@JosepBorrellF) March 18, 2024
In particular, the EU Council decided to increase the financial ceiling of the European Peace Fund (EPF) by 5 billion euros for Ukraine, establishing a special Ukraine Assistance Fund (UAF) under the EPF.
The newly established Assistance Fund for Ukraine will allow the EU to further support the evolving needs of the Ukrainian Armed Forces through the provision of lethal and non-lethal military equipment and training. This Fund complements the bilateral efforts of EU Member States and focuses on increased joint procurement by the European and Norwegian defense industry.
After today’s decision, the fiscal ceiling of EPF will be exceeded in total the 17 billion euros for the period 2021-2027.
Source :Skai
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