Ukrainian PM Shmyhal reveals how Ukraine can benefit from EU defense procurement
Ukrainian Prime Minister Denys Shmyhal (Vitalii Nosach, RBC-Ukraine)
The EU is launching a mechanism to develop a joint defense industry. Ukraine has been granted official partner status, which opens up new opportunities to take part in supply chains and procurement, Ukrainian Prime Minister Denys Shmyhal said.
Shmyhal stated that EU member states have agreed to establish the SAFE mechanism, which provides for up to €150 billion to develop the European Union's defense industry.
"Ukraine is officially recognized as a partner country, which increases its chances of participating in supply chains within the EU's joint defense procurement," he explained.
According to the Prime Minister, this was an extremely necessary and urgent decision to strengthen the security of the EU member states, Ukraine, and the entire continent.
"Stronger together," Shmyhal noted.
Establishment of the SAFE mechanism
Earlier today, it was announced that the European Union has approved the creation of the Security Action for Europe (SAFE) instrument, which provides for borrowing of up to €150 billion to invest in the defense industry.
We also reported that earlier this year, the European Union agreed to increase defense investments for the coming years.
European Commission President Ursula von der Leyen presented a plan to rearm Europe.
