The European Commission proposes a joint procurement procedure for buying weapons for the member states for the first time. The proposed sum of purchase is €500 million.
The European Defence Fund will boost the EU’s excellence and efficiency in defense equipment and technology by supporting the whole production chain: research, prototype development, and acquisition. To achieve this, the Fund has two strands with different legal and funding structures (or “windows”) which are complementary and are being gradually deployed. The European Union’s executive arm proposed earmarking 500 million euros for joint defense procurement in the wake of the Russian invasion of Ukraine and the military aid EU nations have offered to Kyiv. EU nations have participated in a massive military aid campaign for Ukraine.