Brussels: Europe and the Arabs
 
The Council of the European Union on Monday adopted a decision to increase the overall financial ceiling of the European Peace Facility (EPF) by €3.5 billion, based on a previous agreement, as of March 20, 2023.
This decision aims to ensure the financial sustainability and predictability of the Fund in the long term, to preserve its global geographic reach and the ability of the European Union to quickly prevent and respond to crises and conflicts.
According to a European statement in Brussels, Josep Borrell, Coordinator for Foreign and Security Policy, said, "Today's decision will ensure once again that we have the funding to continue to provide tangible military support to the armed forces of our partners. This is already the second increase in funding for the European Peace Facility since its creation in 2021. In less than two years, The facility has proven its worth. It has completely changed the way we support our defense partners. It makes the EU and its partners stronger."
According to the European statement, with the increase in the balance today, the total financial ceiling now reaches more than 12 billion euros. This decision sends a clear political signal of the European Union's permanent commitment to military support to Ukraine and other partners alike.