Ukraine to Channel up to €1bn in EU Loans Into Joint Defence Projects
10 Articles
10 Articles
Ukraine is expected to allocate up to 1 billion euros from the loan it is receiving from the European Union to finance joint projects with the European defense industry. The initiative aims to bring the Ukrainian military industry closer to European partners, especially in the field of air and missile defense, drones, anti-drone systems and ammunition, reports Telegrafi. This measure would more than quadruple funding for the Ukraine Support Inst…
The amount will be transferred to a European instrument to promote industrial cooperation in the defence sector through joint projects between Ukrainian and European companies.
Ukraine to channel up to €1bn in EU loans into joint defence projects
Ukraine is set to move up to €1bn of its EU loan into the Ukraine Support Instrument to integrate its defence industry with its European partners. The move is part of a Defence Industrial Pact that should remove regulatory hurdles for industrial cooperation and to encourage member states to destock.
Ukraine intends to transform part of Europe’s financial assistance into shared industrial capacities. According to Euronews, the operation envisages an investment of up to 1 billion euros to integrate the military industries of Kiev and the European Union. This decision becomes relevant at a time in [...]
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