European Union (EU) foreign policy chief Josep Borrell said Monday that the bloc’s foreign ministers approved a €3.5 billion increase to the fund that finances arms supplies to Ukraine.
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“The Council today adopted a decision increasing the overall financial ceiling of the European Peace Facility (EPF) by €3.5 billion on the basis of an earlier agreement of March 20, 2023,” the EU Council said in a statement.
Borrell said on social media that the bloc “will continue to double our military support, both in equipment and training, for as long as necessary.”
This is the second time that the EU has agreed to increase the EPF since the beginning of the conflict in Ukraine last February. It is an intergovernmental mechanism outside the EU budget, which is not authorized to finance military operations.
#EU_Ukraine: The MFAs of the EU member states discussed the direction of actions regarding Ukraine: 1) continue to increase support, particularly the military (equipment & training; 2) adopted the additional funds of €3.5 billion for the EPF, including for Ukraine;⤵️
— Dionis Cenusa (@DionisCenusa)
June 26, 2023
The fund allows EU countries that supply weapons and ammunition to Ukraine to claim back a portion of the cost. It is reported that the EPF has already allocated some 4.6 billion euros to finance arms deliveries to its European ally.
It was originally conceived since its creation in 2021 for the EU to assist developing countries in acquiring military equipment.
Russia has repeatedly condemned the implication of the United States and other North Atlantic Treaty Organization (NATO) countries in the conflict in Ukraine by supplying large quantities of weapons to Ukrainian troops.
