ALBAWABA - It is significant that the European Union (EU) Council has approved the continuation of military aid to Ukraine to the tune of an additional €5 billion. The clearance came from the European Peace Fund and signifies a major boost in finances for the struggling nation.
This decision was recently discussed by the EU member state ambassadors that make up the Permanent Representatives Committee (COREPER). It was made possible for the EU Council to accept it today by the agreement last week.
The funds have been allocated to a particular project known as the Ukraine Support Fund (UAF), which will operate under the European Peace Fund's (EPF) supervision.
Speaking on behalf of the EU, Josep Borrell, Vice President of the European Commission and High Representative for Foreign Affairs and Security Policy, emphasized the EU's unwavering commitment to performing its tasks.
Borrell said the Ukraine backing Fund shows the EU's backing for Ukraine against Russian aggression.
The newly founded Ukraine Support Fund is expected to provide crucial military equipment and training to the Ukrainian Armed Forces.
Other administrative measures made at today's EU Council meeting aim to improve the European Peace Fund's efficiency and conformity with international standards.
Ukrainian foreign minister Dmitro Kuleba welcomed the EU Council's decision. Kuleba stressed the importance of the €5 billion money to Ukraine's military.
Today's statement marks a remarkable financial achievement, as the European Peace Fund's 2021–2027 funding ceiling exceeds €17 billion. This large increase underlines the EU's commitment to regional peace and security.
