The European Commission welcomed on Friday a deal between the European Parliament and the Council of the European Union to support ammunition production with up to €500 million. The funds in the form of grants will be used to increase production capacities and tackle identified bottlenecks, the Commission said.
The Regulation on supporting ammunition production (ASAP) "could support the extension or modernization of existing lines, creation of new lines, plans to repurpose old ammunition, securing value chains and addressing skills gaps," according to the Commission. The regulation is subject to formal approval by the European Parliament and the Council, after which the Commission said it will implement it "swiftly" in order to deliver ammunition to Ukraine and help member states refill their stocks.