On June 1, 2023, the European Parliament approved a draft bill to increase European production of ammunition and allocate an additional €500 million for weapons.
The act aims to accelerate the delivery of ammunition and missiles to Ukraine and to help member states restock their arsenals of ground-to-ground and artillery ammunition, missiles, and their components.
The effectiveness of this regulation will be evaluated by mid-2024, and afterwards, the allocation of an additional budget may be considered.
At the same time, the European Parliament is working on an all-European act on procurement, which aims to reinforce the EU’s own defense industry.
"The European Parliament votes for a historic €500 million boost for ammunition production and faster deliveries to support Ukraine. We know what is at stake. We will not waver. We will not leave Ukraine alone," said Roberta Metsola, the President of the European Parliament.
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