European Peace Facility: Council increases financial ceiling to nearly €7.98 billion until 2027
16/03/2023
The Council of the European Union has adopted a decision increasing the financial ceiling of the European Peace Facility (EPF) to €7.979 billion (in current prices) until 2027, ensuring that additional financial needs can be covered.
The European Peace Facility was established in March 2021 to finance all common foreign and security policy (CFSP) actions, with the aim of preventing conflict, preserving peace, and strengthening international security and stability. In particular, the EPF allows the EU to finance actions designed to strengthen the capacities of non-EU countries and regional and international organisations in relation to military and defence matters.
Thanks to the EPF, the EU has been supporting the Ukrainian Armed Forces through seven successive support packages so far, as well as many other countries, including Georgia and the Republic of Moldova. The total EU contribution under the EPF for Ukraine is currently €3.6 billion.
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