EU set to agree on €5 billion top-up of Peace Facility to help Ukraine with weapons – FT

The Financial Times has reported that on 13 March, EU countries are set to agree on a €5 billion increase in funding for the European Peace Facility, which is used to finance military supplies to Ukraine.

Source: Financial Times, citing four officials familiar with the matter; European Pravda

Details: The latest tranche of the EU's "war fund" is set to be approved at a meeting of ambassadors of member states on 13 March. It is unclear how much of the €5 billion will be used for military assistance to Kyiv. 

It is assumed that priority will be given to the purchase of European-made weapons, although weapons from third countries are not ruled out if they are the only option.

Since 2022, the EU has been providing military assistance to Ukraine through the European Peace Facility, which reimburses member states for weapons provided to Ukraine.

Funding is provided in tranches that can be blocked by individual member states. In recent months, this has been done by Hungary, which refused to approve a €500 million replenishment of the European Peace Facility under various pretexts.

At the same time, EU member states are negotiating the establishment of a special €20 billion four-year fund within the European Peace Facility which would be used exclusively to help Ukraine.

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