EP To Approve Plan For Large-Scale Production Of Ammunition In EU

(MENAFN- Trend News Agency) BAKU, Azerbaijan, June 1. The European Parliament will vote on the plan developed by the European Commission to establish large-scale production of ammunition in the EU countries at a mini-session to be held on June 1 in Brussels, Trend reports.

This plan is aimed at ensuring the supply of ammunition to Ukraine and replenishing the EU's own reserves.

The EU will allocate 500 million euros from its budget and up to 1 billion euros from the extra-budgetary European Peace Fund to finance this plan.

The regulatory act on the support of ammunition production provides for limited support measures, including the allocation of subsidies in the amount of 500 million euros from the budget of the EU. This will allow the development of production capabilities in the EU and provide the necessary amount of ammunition, missiles, and their components.


Trend News Agency

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