EU pledges EUR 500m to boost ammunition output in Europe
The EU earmarks EUR 500m for manufacturing of artillery shells, missiles and gunpowder in an effort to speed up production of ammunition for Ukraine and galvanize the bloc’s defense industry.
By Natalia Drozdiak, Bloomberg
Among a raft of measures, the European Commission proposed the funds to co-finance projects alongside EU governments. It offered around half of the funding for companies to ramp up output capacity or refit old stocks of ammunition to make them operational again.
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