EU’s top diplomat proposes EUR 3.5 bn for Ukraine via military aid fund

Josep Borrell, the European Union’s foreign policy chief, has proposed adding EUR 3.5 bn (USD 3.85 bn) to a fund dedicated to providing military aid to Ukraine, according to anonymous EU sources on Wednesday.

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Borrell has called on EU governments to contribute additional capital to the European Peace Facility (EPF), a fund that has already allocated approximately EUR 4.6 bn in military aid to Ukraine.

Established in 2021, the EPF was originally designed to assist developing nations in purchasing military equipment. However, in the wake of Russia’s invasion in February last year, the 27-member bloc swiftly decided to use the fund to supply weapons to Ukraine.

The EPF operates independently from the EU’s budget, which is not permitted to finance military operations. The ongoing conflict has led to the EPF depleting its resources far more rapidly than initially anticipated.

The fund enables EU nations that provide weapons and ammunition to Ukraine to recoup a portion of their costs.

A high-ranking EU official revealed that Borrell’s decision to request additional funds was spurred by the dwindling resources of the fund and the EU foreign policy service’s desire to ensure sufficient funds for military aid to other countries, in addition to Ukraine.

“The EPF needs replenishment,” stated the official. “The European Peace Facility has a universal mandate. It was not conceived exclusively for Ukraine. It was designed to address any conflict that the European Union might have to deal with.”