European Commission to refinance 1 billion euros of spending by EU member states on ammo

The European Commission intends to refinance the spending on ammunition of EU member states in the amount of 1 billion euros and raise another 1 billion euros through tenders for the replenishment of stocks, European Commissioner for the Internal Market Thierry Breton said, Report informs via TASS.

“For the first time, thanks to our programs, we will be able to refinance €1 billion of spending by member countries. We will also have a package in which we will announce tenders - countries and firms producing ammunition will be able to submit offers. This will be another €1 billion to replenish our stocks", - he said.

According to him, it is important "that the European defense industry take advantage of this opportunity, increasing its production capacity to meet the needs of Europe and Ukrainian friends."