EU agrees to increase European Peace Facility financial ceiling by €3.5 billion
27/06/2023
The Council of the European Union decided today to increase the overall financial ceiling of the European Peace Facility (EPF) by €3.5 billion, building on an earlier agreement from 20 March 2023.
This will ensure the EPF’s financial sustainability and send “a clear political signal of the EU’s enduring commitment to military support for Ukraine and other partners alike”, says a press release by the Council of the EU.
The EPF is an off-budget instrument. It started with an overall financial ceiling of €5.5 billion (in current prices) for the period 2021-2027, which was increased with a first top-up of €2 billion to almost €8 billion (in current prices) on 13 March 2023. With today’s top-up, the overall financial ceiling now totals more than €12 billion (in current prices).
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, such as Georgia and Moldova.
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