Home World 500 million support for the European defense industry

500 million support for the European defense industry

0
500 million support for the European defense industry

BRUSSELS – ANSWER. Flesh and Bones now gets War Economy for European Unionwhich would have been unthinkable a year and a half ago. The war in Ukraine has created a need to change the model of strengthening the defense industry for the European Union and in this context the law was approved yesterday by the Commission (Ammunition Promotion Act – ASAP) on the basis of the corresponding agreement of March 20 of the Council of Europe for the allocation of 500 million euros, of which 260 will come from the so-called European Defense Fund for the production of one million shells per year for Ukraine.

500 millionth support of the European defense industry-1

The law’s English abbreviation (ASAP) coincidentally refers to the urgent need to deliver ammunition and missiles to Ukraine, but also covers the need to replenish stocks in the arsenals of EU member states.

“I am sure that within 12 months we will be able to increase our production capacity to 1 million shells per year for Ukraine,” the commissioner for the internal market said yesterday. Thierry Breton presentation of the law approved by the Commission to correspondents in Brussels. According to the French commissioner, not only the urgent needs of Ukraine, but also “the needs of the collective security of Europe” will be satisfied.

Macron persecution

Indirectly recalling French President Macron’s core desire for European strategic autonomy, he spoke of the strength of “our autonomy and defense.” Moreover, for Thierry Breton, 500 million euros is “clear enough” because, having toured a total of nine countries, including Greece, and fifteen military factories, he found that “European companies, especially Eastern European ones, already have the infrastructure to produce a huge quantity of ammunition.

According to Thierry Breton, defense companies committed to the supply of new ammunition under joint contracts will receive benefits thanks to the new law.

However, the proposed regulation is the third stage (track 3) of the plan to strengthen and accelerate the industrial production of ammunition in Europe, recalled in a statement the president of the Commission, Ursula von der Leyen.

Ammunition in Kyiv

Member States have already agreed to deliver additional munitions from their stockpiles to Kyiv with the support of the European Peace Fund (EPF) in the amount of 1 billion euros, while they have agreed on joint purchases of ammunition for Ukraine. billion euros (joint purchases of 155-mm shells).

In addition, access to finance for European Union companies in the munitions and missiles sector is facilitated through the Expansion Fund. This fund will support businesses in the ammunition and missile supply chains to access public and private funding to accelerate the investment needed to increase production capacity.

“We are keeping our promise to support Ukraine and its people for as long as necessary. But the brave soldiers of Ukraine need enough military hardware to defend their country,” said European Commission President Ursula von der Leyen, clearly reminding Member States to approve the plan before the end of June, as she requires the Commission to do so.

Author: Alexandra Woodury

Source: Kathimerini

LEAVE A REPLY

Please enter your comment!
Please enter your name here