Brussels (EFE) in the EU, in order to continue helping Ukraine.
Third way of the European plan
ASAP, as this regulation in support of ammunition production in the European Union has been baptized, corresponds to the third path of the European plan to donate one million rounds of ammunition to Ukraine in one year promoted by EU leaders in their summit on March 20.
This route is added to those that refer, in parallel, to the delivery of all possible stocks that the Member States have in their possession and to the route of placing common orders between several countries to the industry so that they can be quickly replaced.
“Thanks to today’s agreement in record time by ASAP, the EU will strengthen and accelerate its own production of ammunition and missiles in Europe,” Spanish Defense Minister Margarita Robles said in a council statement.
EU’s unwavering commitment to Ukraine
Robles added that “this is yet another proof of the EU’s unwavering commitment to supporting Ukraine, strengthening the EU’s defense technological and industrial base and, ultimately, ensuring the long-term security and defense of the citizens of Ukraine. The EU”.
The rules agreed tonight, which still need to be formally endorsed by the Council and Parliament for their entry into force which is expected before the end of July, introduce an “instrument” through which the EU will financially support capacity building of industrial production in the EU for ammunition and missiles along the supply and value chains.
This financial support will be provided in the form of grants for various types of actions that contribute to the efforts of the European defense industry to increase its production capacity and address identified bottlenecks.
In addition, the new rules will facilitate access to finance for EU companies in the field of ammunition and missiles, possibly through the so-called ‘Acceleration Fund’.
That fund is intended to provide munitions and missile-manufacturing companies along the value chain with access to public and private financing, to accelerate the investments needed to increase manufacturing capabilities.
This is the first agreement in a trilogue – the final round of negotiation of a European regulation between the Council (the countries), the Parliament and the Commission – achieved during the Spanish presidency, which began on July 1.