2024-03-18 15:35:20
The European Commission announced the allocation of 500 million euros in accordance with the law on supporting the production of ammunition (ASAP), Day.Az reports with reference to Interfax.
“This will allow the European defense industry to increase its ammunition production capacity to 2 million rounds per year by the end of 2025,” the EC said in a communiqué.
It said that the European Commission has also started implementing the common defense procurement instrument (EDIRPA) work program and the fourth annual work program of the European Defense Fund (EDF). The total budget of these programs is almost 2 billion euros.
The EC has selected 31 projects designed to help European industry increase ammunition production. Selected projects cover explosives, gunpowder, projectiles, rockets, and test certification.
“The projects will be financed with €513 million from the EU and Norwegian budgets. This funding will attract additional investment from industry through co-financing, bringing the total investment in the supply chain to around €1.4 billion,” the EC announced.