EU Plans to Boost Weapons Production with Significant Funding

EU to Allocate €500 Million to Address Ammunition and Missile Shortages

In the night, the EU reached an agreement on a plan to expedite the expansion of the arms industry’s production. €500 million will be allocated to address shortages in the availability of ammunition and missiles.

The Ukrainian armed forces can expect significantly increased deliveries of ammunition and missiles from the EU in the long term.

Representatives of the member states’ governments and the European Parliament agreed on a plan during the night, which aims to incentivize the rapid expansion of production capacities in the European arms industry through financial incentives.

The plan was proposed by the EU Commission in May and envisages expenditures of €500 million from the EU budget.

Ukrainian Conflict Exposed Production Difficulties

The agreement is further evidence of the EU’s unwavering commitment to support Ukraine, commented Spanish Defense Minister Margarita Robles, representing the current EU Presidency. It also demonstrates the commitment to strengthen the EU’s defense technological and industrial base and ensures the long-term security and defense of EU citizens.

The background of the project lies in the difficulties faced by EU member states in supplying sufficient surface-to-surface and artillery ammunition, as well as missiles, to Ukraine for its defense against Russia. Expanding production aims to prevent further shortages for the Ukrainian armed forces and ensure that EU member states themselves remain capable of defense and maintain sufficient stockpiles.

The agreement still needs formal confirmation from the Council of Member States and the Parliament. According to the EU, the regulation could enter into force before the end of July, following the official acceptance of the regulation.