The Council of the European Union (EU) has increased the size of the European Peace Fund in 2023 by €2 billion. Funds are allocated from this fund for the purchase of weapons for Ukraine.
This was reported by the press service of the Council of the EU.
The European Peace Fund has a total financial limit of €5 billion for the period 2021-2027. His annual caps range from €420 million in 2021 to €1.132 billion in 2027. The contributions of the member states are determined on the basis of the distribution key of the gross national income.
At the same time, 86% of the total financial ceiling for 2021-2027 has already been allocated during the current year, which made it necessary to increase the budget.
- On December 10, the Council of the European Union approved a package of assistance to Ukraine for the next year in the amount of €18 billion.