"The procurement projects approved today, worth about 21 billion euros [$21.7 billion], will be financed through a special fund (about 7 billion euros), through the defense budget and through general budget expenditures," the statement read.
The document also includes the list of equipment approved for purchase, such as four new Type 212CD submarines and Type F127 frigates, and development of medium-range IDAS missiles for submarines.
Furthermore, the budget committee approved the purchase of rocket artillery systems equipped with Israeli PULS multiple rocket launchers, reactive armor for the Puma infantry fighting vehicles, equipment for the digitization of ground operations as well as thermal cameras and imaging infrared systems for the country's ground forces.
The German air force will receive guided missiles for Patriot air defense systems and equipment to extend the useful life of IRIS-T systems, according to the statement.
In addition, new capacities for data centers and cloud infrastructure were approved for cyber security forces.
The German parliament backed Chancellor Olaf Scholz's proposal in 2022 to create a special fund for the Bundeswehr worth 100 billion euros so that the German armed forces could eventually grow to become the largest regular army in Europe. Scholz cited the onset of the Ukrainian conflict as the reason for the buildup.