(Finance) – The European Commission has allocated i 500 million euros provided for by the law to support the production of ammunition (ASAP). This will allow the European defense industry to increase its capacity ammunition production bringing it to 2 million shells per year by the end of 2025. The Commission also launched the work program for the Instrument for StrengtheningEuropean defense industry through joint procurement (EDIRPA) and the fourth annual work program of the European Defense Fund (EDF).
Together, these programs have an endowment of almost 2 billion euros. Today’s measures towards strengthening the European defense industrial and technological base are taken following the adoption of the first European Defense Industrial Strategy (EDIS) and the related proposal for a European Defense Industrial Program (EDIP).
“Currently 2 billion euros are invested in defense research and development, munitions production and joint procurement. These are important steps to invest more, better, together and European. They demonstrate the potential of the European program to recently proposed defense industry and contribute to our efforts to support Ukraine. And the EU keeps its promise to strengthen Europe’s defense industrial and technological base,” he said Margrethe VestagerExecutive Vice President for A Europe Fit for the Digital Age.
“The Ammunition Production Support Act (ASAP) is in force – he added Thierry Breton, Commissioner for the Internal Market – We are investing 500 million euros in 31 industrial defense projects to increase the production of munitions. This is the first time we have used the EU budget to support industrial production capabilities in the defense sector. Without precedents. The signal we are sending is clear: Europe is ready to produce more quickly and together as Europeans.”