Ukraine will be granted access to the EU defense fund
6 November 12:14
On Wednesday, November 5, representatives of the European Parliament and the Council of the European Union, which is currently chaired by Denmark, reached a preliminary agreement on granting Ukraine access to the European Defense Fund, "Komersant Ukrainian" reports, citing the dpa news agency.
The fund is aimed at increasing the competitiveness and efficiency of the European Union in the defense sector. The authorities have allocated about €9.5 billion to achieve these goals for the period from 2021 to 2027. Granting access to the fund will allow local companies to participate in EU-funded defense research and development projects.
The parties agreed to expand the use of the EU budget for defense research and development, as well as for investments in industry and infrastructure as part of the ReArm Europe military capability-building plan, dpa reports, citing Danish officials. All these initiatives are linked “primarily to threats from Russia.” European intelligence services believe that Russia is likely to be able to start a new war no later than 2030, the agency notes.
The agreement will allow defense spending to be diverted from funds originally targeted at civilian projects.
the “preliminary agreement” reached by the European Parliament and the EU Council “will open up existing EU funds for defense, which are usually used for civilian purposes,” the EU Council press service reported on the X website. In particular, the parties agreed to expand the Horizon Europe research and innovation financial support program to include dual-use companies.
However, this agreement will officially enter into force only after it is confirmed by both parties – the European Parliament and the Council of the European Union.
