"EU Invests Billions to Boost Defense Industry and Ammunition Production"
TL;DR Summary
The European Union has allocated over $560 million to local ammunition firms to boost production and meet the demand for shells, aiming to increase the bloc's annual output to two million by 2025. The funding is intended to aid Ukraine in its conflict with Russia and will support investments in facilities for shell production. However, there are concerns about the funding source, as it includes money from the budget of the European Defense Fund, which some argue may impact long-term defense industry development.
- EU sprinkles $560 million over defense firms to grow ammunition output Defense News
- EU Commission announces €2 bn defence projects for armaments production, joint purchases and research EURACTIV
- EU Pumps Money into Explosives in Push to Up Shell Production Kyiv Post
- In Brief: Europe's New Defense Industrial Strategy War On The Rocks
- The Commission allocates €500 million ASAP European Commission
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