European Commission allocates €500 million for production of ammunition

The European Commission (EC) has allocated €500 million for the production of ammunition by the European defense industry, Report informs via TASS.

As Report reports with reference to TASS, the EC press service reported this.

Today the European Commission has allocated €500 million under the Ammunition Support Act, the commission said in a statement, adding that this will enable the European defense industry to increase its ammunition production capacity to 2 million rounds per year by the end of 2025.