The Council of the European Union and the European Commission have allocated 1.5 billion euros for defense under the European Defense Industry Investment Program. Bloomberg writes about this.
“The funds will be provided in the form of grants until 2027, one fifth of which is intended for cooperation with Ukraine,” the publication says.
The agency noted that the program is aimed at reducing dependence on American weapons, facilitating the procurement process, and increasing the competitiveness of the European defense and aerospace industries. The program also provides for cooperation with Ukraine in the field of the defense industry and the possibility of its integration with the EU military technological base.
Earlier, Politico wrote that the European Commission is looking for ways to allocate Ukraine another $25 billion in “reparations loans” from frozen Russian assets.
