European Commission Says To Allocate Over $1.6Bln For Production Of Ammunition For Ukraine

The European Commission will allocate another 1.5 billion Euros ($1.66 billion) for the production of ammunition for Ukraine, head Ursula von der Leyen said on Wednesday.

The EU body has proposed to allocate 500 million euros to expand the production of ammunition in Europe.

In addition, the EU countries will supply Ukraine with additional ammunition from their existing stocks with the support of the European Peace Facility in the amount of 1 billion euros.

"Together with the Member States, we will mobilise a further 1 billion euro to ramp up capacities across Europe. This is a critical part of Europe's strategic capacity to defend its interests and values, and help maintain peace on our continent," von der Leyen was quoted as saying in a statement by the commission.