The EU Commission launches a €500 million joint defense procurement fund
The EU Commission launches a joint defense procurement fund (EDIRPA) endowed with €500 million to strengthen EU military industrial capabilities over the period of 2022-2024.
"This is a new stage in European defense integration," announced EU Internal Market Commissioner Thierry Breton on Tuesday unveiling the fund, which complements the European Defense Fund. It aims to increase the production of heavy weapons and ammunition in the EU and replenish European stocks, while also continuing in the immediate term to offer military support to Ukraine. The initiative will be supported by a permanent joint procurement program by the end of the year.
The instrument - reads a note from the executive - will encourage member states, in a spirit of solidarity, to jointly procure and facilitate all member states' access to urgently needed defense products. Promoting the cooperation and avoid fragmentation of the