Ukraine Allowed to Participate in European Defence Fund... EU Calls It "Historic Decision"

EU Reaches Provisional Agreement on Defense Investment Promotion
Ukrainian Defense Companies to Benefit from the Fund

On November 5 (local time), negotiators from the Council of the European Union and the European Parliament announced a provisional agreement on a defense investment promotion plan, the main point of which allows Ukrainian defense companies to benefit from the European Defence Fund (EDF).

Ukrainian Soldiers in a Trench in the Midst of Winter Photo by Yonhap News

This agreement is considered a key implementation step of the so-called 'REARM Europe' plan, which is a defense funding policy aimed at increasing EU defense spending and strengthening military capabilities. As a result, Ukrainian defense companies will now be able to participate in research and development (R&D) projects funded by the EDF.

The EDF, established to enhance the competitiveness and efficiency of the EU’s defense industry, has been allocated approximately 9.5 billion euros (about 15.8 trillion won) for the period from 2021 to 2027.

The EU Council emphasized, "A historic decision to formally link Ukraine to the EDF was included in today's agreement," adding, "This is a symbolic measure that demonstrates the EU's ongoing commitment to Ukraine's security and resilience, as well as to the gradual integration of Ukraine into the European defense industrial base."

The EU negotiating team also agreed to increase the use of EU budget funds for defense-related R&D and infrastructure investments in the defense sector, and to simplify the procedures for utilizing these funds.

The EU Council described the decision as "a significant milestone in promoting defense-related investments within the current EU budget, as well as an important step forward in implementing the REARM Europe plan and strengthening Europe's defense posture by 2030."

This content was produced with the assistance of AI translation services.