European Peace Facility Budget Increase by €3.5 Bln

by Meifan Honcharuk
Tuesday, June 27, 2023
European Peace Facility Budget Increase by €3.5 Bln

Now the budget is more than €12 bln

On June 12, the Council of the European Union voted to raise the upper threshold for funding the European Peace Facility. The fixed budget for 2021-2027 was €7.9 billion, of which €4.6 was for Ukraine. From 2021, this is the second increase in the threshold, and now the budget is over €12 billion.

"This decision sends a clear political signal of the EU's continued readiness to provide military support to Ukraine and other partners," Josep Borrell.

The increase in the budget will help the European Commission quickly respond to any challenges and dangers in Europe, as well as predict its actions depending on the changing geopolitical situation in the world.

You will be interested