260 million euros will be invested in joint projects with Ukraine, more than 300 million euros will be allocated to launch industrial initiatives together with Oslo and Kyiv
The European Commission has approved funding in the amount of 1.5 billion euros under the EDIP program. These funds will be used to strengthen the EU defense-industrial complex and support Ukraine’s production capacities. This, Mind informs, is stated on the website of the Council of the EU. The PromPolitInform portal reports.
700 million euros will be allocated to increase the production of key defense components and products, including anti-drone systems, missiles and ammunition. Of these, 260 million euros will be invested in joint projects with Ukraine.
325 million euros will go to launch joint industrial projects together with Norway and Ukraine.
A further €240 million is earmarked for joint procurement by EU Member States and Norway of defence equipment: anti-drone systems, air and missile defence, as well as land and sea combat systems. Consortia of customers can apply for funding, with grants of up to €20 million per project.
Defence start-ups, including small and medium-sized enterprises (SMEs) and small mid-caps, will receive €100 million in capital support through the Defence Supply Chain Transformation Acceleration Fund (FAST).
As part of the BraveTech EU initiative, a new defence innovation programme will receive an additional €35.3 million from the EDIP USI. This support is aimed at Ukrainian and European industry, in particular startups and SMEs, stimulating innovation to address the urgent challenges facing the Ukrainian military and increasing the competitiveness of the European defense industry.
As previously reported, the European Parliament has adopted a law introducing the first ever European Defense Industrial Program (EDIP) in the EU. The program provides 300 million euros to support the Ukrainian defense industry.
