European Union member states have agreed on the terms for €6.6 billion to be used to finance military support for Ukraine. The funds will come from the European Peace Facility, which is financed by the EU.
EU foreign policy chief Kaja Kallas said the decision was good news for Ukraine and bad news for Russia.
Funds will support military assistance and reimbursements
Under the funding plan, €900 million has been allocated to support the EU Military Assistance Mission in support of Ukraine. A further €1 billion will be used for the joint procurement of new military equipment.
The remaining €4.7 billion will be paid to EU member states. Kallas said some countries had decided to transfer their allocated shares to Ukraine.
Kallas: Europe is increasing rather than reducing its support
Kallas said Moscow was trying to reduce Europe's support for Ukraine through hybrid attacks. She said Europe was responding to this pressure by increasing its support rather than reducing it.
The European Peace Facility is a financing mechanism that supports the provision of military assistance to the EU's partner countries. The fund has previously been used to send military equipment and supplies to Ukraine and to finance the EU Military Assistance Mission in support of Ukraine.