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EU: Half a billion euros for arms production

2022-07-20T06:29:09.883Z


Since the beginning of the Russian war of aggression, EU countries have been supplying arms to Ukraine. Now EU funds are to be used to replenish the stocks.


Enlarge image

A tank at the international defense exhibition in Villepinte, France

Photo: Benoit Tessier / REUTERS

The European Union would like to provide 500 million euros from the Community budget to strengthen Europe's defense capabilities.

Among other things, the money is intended to support the expansion of production capacities in the defense industry.

This emerges from a plan by the EU Commission.

However, the prerequisite for EU funding would be that such projects are carried out by a consortium of companies from at least three member states.

The EU wants to help replenish the stocks

By supplying arms to Ukraine, the member states had "taken courageous steps," said Commission Vice-President Margrethe Vestager.

In the same spirit of solidarity, the EU will now help Member States to replenish these stocks.

At the same time, the Commission's plan is intended to provide incentives for the joint procurement of weapons and other armaments.

According to Vestager, the proposal is "a historic milestone" in the realization of the European defense union.

The Commission is now counting on the proposal for the “Instrument to Strengthen the European Defense Industry through Joint Procurement” (EDIRPA) to be swiftly adopted by the European Parliament and the Council of Member States.

It would supplement the so-called European Defense Fund, which is to make almost eight billion euros available for cross-border defense projects between 2021 and 2027.

EU continues to deliver arms to Ukraine

In May, the heads of state and government of the EU states asked for the Commission's proposal to strengthen European defense capabilities in the short term.

Russia's war of aggression against Ukraine would have completely changed Europe's security situation.

EU Council President Charles Michel announced on Monday that the EU would supply Ukraine with additional weapons worth 500 million euros.

This increased the military aid made available to Ukraine to 2.5 billion euros.

jlk/dpa

Source: spiegel

All business articles on 2022-07-20

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