5/24, 1:36 PM (Source: TeleTrader)
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EU to increase Ukraine military aid fund to €2B

The Council of the European Union decided on Tuesday to increase funding for military assistance for Ukraine from €1.5 billion to €2 billion, according to the statement posted on the Council's official webpage.

The two additional measures were adopted under the European Peace Facility (EPF), and will allow the EU to "further support the capabilities and resilience of the Ukrainian Armed Forces to defend the territorial integrity and sovereignty of the country, and protect the civilian population against the ongoing Russian military aggression," the statement said. The additional €500 million will be used for military equipment as well as medical and protective supplies.

Earlier this month, European Union foreign policy chief Josep Borrell announced the bloc's plans to provide additional financial help of €500 million to Kiev.

Baha Breaking News (BBN) / TB