EU fund that bankrolls Ukraine arms to get 3.5 billion euro boost
European Union foreign ministers will approve a boost of 3.5 billion euros ($3.81 billion) to a military aid fund used to bankroll weapons and ammunition for Ukraine, officials said on Friday, Reuters reports.
The ministers are expected to raise the financial ceiling on the European Peace Facility (EPF) - a fund that has already allocated some 5.6 billion euros in military aid for Ukraine - at a meeting in Luxembourg on Monday.
The fund, established in 2021, was conceived for the EU to help developing countries buy military equipment. But the 27-member union quickly decided to use it also to get weapons to Ukraine after Russia's invasion in February last year.
