The Defense Minister Mykhailo Fedorov called for €6.6 billion from the European Peace Fund to be directed to Ukraineʼs defense needs.
Reuters reports this with reference to Fedorovʼs letter to European partners.
The letter, dated June 26, states that Ukraine needs €136 billion for defense this year, and the budget covers approximately €53 billion. Fedorov recalled that this year Kyiv will receive almost €28.3 billion for defense from the total EU loan of €90 billion.
However, he said, even with all these funds, the defense financing needs are not covered. He added that the funds from the European Peace Fund could become “one of the most significant European contributions to Ukraine’s defense this year, but only if these resources are directed to where they can create the greatest and most immediate military effect”.
- In June, the Verkhovna Rada approved budget amendments. According to them, spending on security and defense will amount to a record UAH 4.4 trillion. Another UAH 2.3 trillion will go to the purchase of weapons and military equipment, and more than UAH 1.45 trillion will go to military salaries.
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