EU Expands Ukraine Weapon Funding Support to 2.5 Billion Euros

[Image source=Yonhap News]

[Asia Economy Reporter Kim Hyunjung] European Union (EU) member states are expanding their weapons funding support to Ukraine to 2.5 billion euros (approximately 3.3053 trillion won), Bloomberg reported on the 14th (local time).

The news agency cited sources familiar with the matter, stating that member states will soon add an additional 500 million euros to Ukraine's weapons funding support.

In recent months, the EU has agreed on several rounds of weapons funding for Ukraine under the so-called European Peace Facility (EPF), which reimburses national governments for the costs of delivering military supplies to Ukraine.

The EPF, with a ceiling of about 6 billion euros, is also used to support other countries, and the EU sees the need to reassess how to continue providing support to Ukraine using the EPF after this summer.

Raising the EPF ceiling requires difficult negotiations among member states. Otherwise, funds allocated to projects in other countries must be cut.

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