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Tags: Europe | Defense

EU Proposes Half-billion Euros for Joint Defense Procurement

Tuesday, 19 July 2022 07:00 AM EDT

BRUSSELS (AP) — 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.

With the first-ever such pooling of resources, “it will avoid competition among member states for the same products and facilitate cost savings,” the European Commission said in a statement.

EU nations have participated in a massive military aid campaign for Ukraine and want to quickly top up their own supplies again. The European Commission hopes to have the joint-procurement system up and running by the end of the year.

Follow AP's coverage of the Russia-Ukraine war at https://apnews.com/hub/russia-ukraine

© Copyright 2022 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


GlobalTalk
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.With the first-ever such pooling of resources, "it will avoid...
Europe,Defense
113
2022-00-19
Tuesday, 19 July 2022 07:00 AM
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