The Strategist

EU to send €2bn to European Peace Facility to pay for arms supplies to Ukraine

03/09/2023 - 08:00

The European Union (EU) authorized a €2 billion increase in the European Peace Facility's budget. The money will be used to pay for EU military aid to Ukraine.

Andrew Bossi
Andrew Bossi
"The European Peace Fund will receive an extra €2 billion, as approved by the EU ambassadors today. The EU's ongoing commitment to providing military support for Ukraine and other allies is made clear by this decision," the EU Council's Swedish Presidency stated on Twitter.

The European Union has provided Ukraine with €49 billion in financial aid since February 24, 2022, of which €3.6 billion was in the form of military support. The European Union has already allotted €45 million from the European Peace Facility for the purpose of training Ukrainian troops in Poland. Since the war started, the EU has sent Ukraine 325 tanks, 200 multiple rocket launchers, and over 1,000 drones, according to the Financial Times.

The European Peace Facility was established in 2021 in order to finance military and defense spending and stop military conflicts in other nations. Money from the fund had never been used to buy weapons prior to the Russo-Ukrainian conflict.