The Council of the EU has decided to increase the upper limit of financing of the European Peace Facility (EPF) by €3.5 billion.

The announcement was made on the website of the European Council on Monday, June 26.

In particular, this will allow for continuing and increasing military support for Ukraine against the background of Russian aggression.

This Fund, in particular, finances the purchase of weapons for Ukraine.

This decision is intended to ensure the EPF financial sustainability and predictability in the longer term, and preserve the EU’s ability to prevent and swiftly respond to crises and conflicts.

It is noted that after today’s decision to increase financing by €3.5 billion, the overall financial ceiling now totals more than €12 billion.

Josep Borrell, EU High Representative for Foreign Affairs and Security Policy, notes that this is already the second increase of the European Peace Facility funding since its creation in 2021.

“In less than two years, the Facility has proven its worth. It has completely changed the way we support our partners on defence. It makes the EU and its partners stronger,” he said.

This decision of the European Council sends a clear political signal of the EU’s enduring commitment to military support for Ukraine and other partners alike.

The European Peace Facility (EPF)

The European Peace Fund is an extra-budgetary instrument established in March 2021 to finance all common foreign and security policy actions relating to military and defense matters. It aims to prevent conflicts, build peace, and strengthen international security and stability.

In particular, the European Peace Facility allows the EU to finance actions designed to strengthen the capacities of non-EU countries, as well as regional and international organisations in relation to military and defence matters.

Thanks to the European Peace Fund, the EU supports the Armed Forces of Ukraine through the allocation of assistance packages for the purchase of weapons, ammunition and equipment.