The European Commission has approved a €1.5 billion program to support the European and Ukrainian defense industries
The European Commission has approved a €1.5 billion work program under the European Defense Industrial Program (EDIP).
This was reported by the European Commission’s press service.
The program aims to strengthen the EU’s defense industry, increase production capacity, and enhance cooperation with Ukraine.
Over €700 million will be allocated for the production of key defense components, including missiles, ammunition, and anti-drone systems.
An additional €260 million is earmarked for joint projects with Ukraine to develop defense capabilities.
€325 million will be directed toward European defense projects of common interest, which are also open to Ukraine.
In addition, €240 million will be allocated for joint arms procurement, including air defense and missile defense systems.
Separately, €100 million is earmarked to support defense startups, and over €35 million for innovation programs involving Ukraine.
The first calls for proposals under the program will launch as early as March 31.
IMF Managing Director Kristalina Georgieva stated that the new $8.1 billion 48-month EFF program for Ukraine will be immediately reviewed if progress is made in peace negotiations.
As a reminder, the International Monetary Fund has required Ukraine to adopt a package of tax reforms as part of the new financing program. The deadline for fulfilling these commitments is the end of March.
