By KYIV. Dec 12 (Interfax-Ukraine) – The EU Council at the level of foreign ministers, meeting in Brussels on Monday, agreed to raise the EUR 2 billion financial "ceiling" of the European Peace Fund (EPF), from which the EU military assistance to Ukraine is paid.
“The Council today reached a political agreement with a view to ensuring the financial sustainability of the European Peace Facility (EPF). The Council decided in particular to increase the overall financial ceiling by EUR 2 billion (in 2018 prices) in 2023, with the possibility of a further increase at a later stage. The total increase of the EPF overall financial ceiling until 2027 would be up to EUR 5.5 billion (in 2018 prices),” a press release by a European Council (EC) says.
|Today’s decision will ensure that we have the funding to continue delivering concrete military support to our partners’ armed forces. In less than two years, the European Peace Facility has proven its worth. It has completely changed the way we support our partners on defence. It makes the EU and its partners stronger,” the document quotes High Representative for Foreign Affairs and Security and Defense Policy Josep Borrell as saying.
Brussels reports that the official registration of the agreement is expected in early 2023.
“This decision sends a clear political signal of the EU’s enduring commitment to military support for Ukraine and other partners alike,” the communiqué reads.
In addition to Ukraine, for which EUR 3.1 billion has been allocated, taking into account the sixth tranche of military assistance approved in October, the EPF created in March 2021 provides support to non-EU countries, as well as regional and international organizations regarding military and defense issues. Assistance was provided to Georgia, Moldova, Mozambique, Mali, Somalia, Niger, Bosnia and Herzegovina, Lebanon and Mauritania, as well as to the military components of African-led peacekeeping operations and multinational units such as the Balkan Medical Task Force.
As a result, 86% of the overall financial ceiling for 2021-2027 has already been committed in 2022, which made a first increase necessary, Brussels explains.
