The European Commission has approved a new €1.5 billion defence industry development programme. A significant part of the funding will be used to produce anti-drone, missile and ammunition systems. It also provides for the launch of joint industrial facilities with Ukraine and Norway.
Financing the defence industry
The European Commission has approved a €1.5 billion programme to develop the European and Ukrainian defence industry.
Of this amount, €700 million will be allocated for the production of anti-drone systems, missiles and ammunition. Another €320 million will be used to launch joint industrial facilities, including with Ukraine and Norway.
Joint projects with Ukraine
The programme provides for the creation of joint production facilities with the involvement of Ukrainian companies.
The cooperation will also include partners from Norway. The goal is to strengthen the capabilities of the European and Ukrainian defence sectors.
Context.
The programme is a response to the growing security needs in Europe. The EU continues to increase its support for Ukraine in the defence sector and strengthen its industrial base.
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