22.8 C
Port Louis
Monday, May 20, 2024

Download The App:

Read in French

spot_img

EU To Give $5 Billion To Ukraine In Militarily Aid Fund

Must Read

The European Union’s member states were nearing an agreement on a military aid fund for Ukraine, which would open the door for a $5.46 billion infusion, diplomats reported on Tuesday.

The European Peace Facility is a fund that has been the subject of months of squabbling amongst EU member states, with France and Germany occupying a central position in most of the discussions. The fund reimburses EU members for exporting weapons abroad, functioning as a massive payback program.

Diplomats reported that Germany insisted on bilateral aid be taken into consideration when establishing the amount of countries’ contributions to the fund, while France insisted on a strict “buy European” policy for armaments eligible for refunds.

According to diplomats, a compromise has now been reached that permits some leeway in the “buy European” regulations. According to them, the system considers bilateral aid but prevents nations from fully deducting such help from their fund contributions.

The agreement appeared likely to be endorsed by ambassadors from the 27 EU member states at a meeting in Brussels on Wednesday, barring any unforeseen complications, the diplomats stated.

Germany is in favour of the compromise, according to Michael Clauss, Berlin’s ambassador to the EU. “It’s a good solution for Ukraine because it allows for the delivery of bilateral military aid, avoiding bureaucratic delay, as part of the European effort,” he said.

According to the EU, the EPF has already been used to finance help for Ukraine totaling over 6.1 billion euros.

Last year, Josep Borrell, the head of the EU’s foreign policy, suggested that the Ukraine Assistance Fund, an additional fund inside the EPF with a maximum annual budget of five billion euros for the following four years, be established expressly for help to Kyiv.

- Advertisement -spot_img

More Articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisement -spot_img

Latest Articles