The European Union agreed to allocate an additional 2 billion euros ($2.1 billion) to the European Peace Facility (EPF), which was used to finance military supplies to Ukraine, the Swedish Presidency of the Council of the EU said on Wednesday
MOSCOW (UrduPoint News / Sputnik – 08th March, 2023) The European Union agreed to allocate an additional 2 billion Euros ($2.1 billion) to the European Peace Facility (EPF), which was used to finance military supplies to Ukraine, the Swedish Presidency of the Council of the EU said on Wednesday.
“Today, EU Ambassadors approved an additional 2 billion euros to the European Peace Facility. This decision sends a clear signal of the EU’s enduring commitment to military support for Ukraine and other partners,” the Swedish Presidency said on Twitter.
The European Peace Facility was established in March 2021 under the Common Foreign and Security Policy in order to strengthen the EU’s role as a global security provider.
The declared goals of the EPF include the maintenance of peace and the prevention of conflicts. The EPF’s budget for the period 2021-2027 amounts to 5.69 billion euros.
Last year, the EU states agreed to use the EPF to fund part of military supplies to Ukraine. In late December, EU foreign ministers agreed to boost the funding of the EPF by 2 billion euros with the possibility of a further increase at a later stage.
