Due to the war in Ukraine, the EU emptied the Peace Fund, which was to last until 2027, within ten months. The EU used the fund to repay arms supplies to Kiev from some EU countries.
“The EU remains committed to providing military support to Ukraine and other partners,” EU High Representative for Foreign Affairs and Security Policy, Joseph Borrell, said on social media.
The European Peace Facility was created last year to help the EU finance military aid to international partners.
After Russia’s repeated invasion of Ukraine on February 24, most of the fund’s funds were used to help arm Ukraine. There is only around €800 million left in the fund from the original budget, which was €5.7 billion.
Foreign ministers of EU member states reached a political agreement in Brussels on Monday on supplementing the fund with another two billion euros next year. Ministers also agreed that, if needed, this amount could be increased to €5.5 billion by 2027.
The EU, together with its member states, has pledged to provide military aid to Ukraine amounting to around eight billion euros, or about 45% of the aid provided by the United States.
