Defense: the EC allocates 500 million euros to bolster ammo production
On March 15th, 2024, the European Commission allotted 500 million euros out of the 5 billions foreseen for the reinforcement of the EU defense industry. These 500 millions were part of the Act in Support of Ammunition Production (ASAP), a measure aimed to urgently deliver ammunition, and if requested missiles, to Ukraine.
The Commission also initiated the Work Programme for bolstering the European defense industry via common procurement (EDIRPA), alongside the fourth annual Work Programme of the European Defense Fund (EDF), with a combined budget nearing 2 billion euros.
Let's see in detail what those two new European endeavors in the defense industries are about.
The ASAP Regulation: ramping-up ammunition production capacity to 2 million per year
With the assistance of ASAP, Europe aims to achieve an annual ammunition shell production capacity of 2 million by the close of 2025, with already a record target reached in January 2024 of 1 million 155 mm shell unit