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The EC has allocated €500 million to companies to increase ammunition production

The European Commission has allocated €500 million in funding to European companies to expand ammunition production, Reuters reports.

It is noted that this decision was made in order to ensure additional supplies of shells to Ukraine and increasing countries’ reserves European Union.

The support will allow the European defense industry to expand production capacity to 2 million projectiles annually by the end of 2025, according to a statement from the European Commission.

The funds will be directed to companies including Rheinmetall, Nammo, Chemring Nobel, Hellenic Defense Systems, Eurenco.

It was previously reported that Ukraine is faced with the problem of a lack of support from the West, which is preventing the country from using the funds allocated to it to develop its own weapons production. More about this read the material Public News Service.

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