EU states to top up fund used for Ukraine arms purchases by 2bn euros

Dec 8, 2022: According to a report by Reuters, European Union countries will replenish a fund that has been used to pay for military support for Ukraine with another 2 billion euros ($2.10 billion).

The bloc’s foreign ministers will decide to top up the so-called European Peace Facility (EPF) by this amount at a meeting in Brussels on Monday, the diplomats said.

EU states have tapped into the EPF to fund purchases of arms and military equipment for Kyiv but it has been largely depleted over almost nine months of war in Ukraine.

In mid-November, EU foreign policy chief Josep Borrell called on member states to refill the pot by the end of the year.

Set up in 2021 with the original goal of funding military purchases in support of countries in Africa, for example, the EPF was filled with 5.7 billion euros for the period until 2027.

In total, the EU and its member states have provided arms and military equipment worth at least 8 billion euros to Ukraine so far, Borrell said in November.

Stay tuned to BaaghiTV for latest news and Updates!

India’s first ever “gold ATM”, delivering gold coins at the click of a button