The European Parliament today approved Europe's first ever Defence Industry Programme, APA reports, citing the European Parliament's press service.
The statement states that this historic initiative aims to strengthen the EU's defence capabilities and support Ukraine's defence industry.
The draft law, which was informally agreed with the EU Council, allocates a budget of €1.5 billion, of which €300 million is intended for support to Ukraine.
Speaking at a plenary session in the European Parliament, EU Defence Commissioner Andrius Kubilius described the document as a "flagship programme for defence preparedness".
He added that the program provides "a toolbox for crisis response" and that it will strengthen security of supply across the EU by ensuring reliable access to defense products.
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