Ukraine will join the European Defense Fund worth €7.3 billion

The European Parliament and the Council of the EU have agreed on an agreement under which Ukraine will join the European Defense Fund with a budget of €7.3 billion.

This is stated on the European Commission website.

This decision will give Ukraine the opportunity to cooperate more with the European defense industry, develop joint technologies, and gradually integrate into the EUʼs defense-industrial base.

The agreement is part of a wider package that will increase investment in defence. EU programme funds can be used to support innovation, infrastructure and the development of civil and military technologies. The agreement will also allow the EU to finance the development of defence technologies more quickly and support military mobility within Europe.

The EU established its own defense fund in 2017. It was created to finance joint defense projects and support innovation in this area.

• The European Commission presented the first ever European Defence Industrial Strategy (EDIP) at EU level in March, which envisages close involvement of Ukraine. The EDIP will receive €1.5 billion from the EU budget over the period 2025-2027.
• The EDIP budget will also strengthen EU defence industrial cooperation with Ukraine and support the development of Ukrainian defence. To this end, the EDIP may leverage excess profits from frozen Russian sovereign assets.

Author: Anastasia Zaikova

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