Last week, the Swedish Presidency of the Council of the EU said that the bloc agreed to allocate an additional 2 billion euros to the EPF.
"The Council adopted a decision increasing the financial ceiling of the European Peace Facility (EPF) to 7.979 billion euros (in current prices) until 2027, ensuring that additional financial needs can be covered," the Council said.
The EPF was established in March 2021 under the Common Foreign and Security Policy in order to strengthen the EU's role as a global security provider. The declared goals of the EPF include the maintenance of peace and the prevention of conflicts. The EPF's preliminary budget for the period 2021-2027 amounted to 5.69 billion euros.
Last year, the EU states agreed to use the EPF to fund part of military supplies to Ukraine. In addition to providing assistance to Kiev regime, the EPF supports such countries as Mozambique, Georgia, Moldova, Mali, Somalia, Niger, Jordan, Bosnia and Herzegovina, Lebanon and Mauritania.