The EU may use its budget to finance weapons purchases for Ukraine.
The plan comes amid concerns that Europe's defense industries may not be able to produce weapons and ammunition fast enough to meet Ukraine's needs.
Under the plan, the bloc would use its budget to provide down payments for weapons and ammunition purchases.
- The scheme is intended to boost the activity of European arms manufacturers, reports the Financial Times, citing people familiar with the plans.
- The proposed scheme would mirror the EU's previous use of advance payments to obtain COVID-19 vaccines from pharmaceutical companies.
The weapon pre-financing plan is unprecedented for the EU, which is bound by governing treaties that prohibit the bloc from using its funds for military purposes.
