EU Strengthens Commitment to Global Peace and Security with Increase in European Peace Facility

EU Strengthens Commitment to Global Peace and Security with Increase in European Peace Facility. The European Union (EU) has further bolstered its commitment to global peace and security with the decision to increase the overall financial ceiling of the European Peace Facility (EPF). With the funding top-up, the EPF will now total more than €12 billion (in current prices), making it the most significant tool in the EU’s foreign and security policy arsenal. The EPF was established in March 2021 to finance all common foreign and security policy (CFSP) actions relating to military and defense matters. 

It has since become the main driver of the EU’s defence and security support for its partners, allowing the Union to fund actions designed to strengthen the capacities of non-EU countries and regional and international organisations in relation to military and defence matters. The EPF is an off-budget instrument and has already seen its funding increase twice, with the most recent increase coming in the form of a €2 billion top-up on 13 March 2023, bringing the overall financial ceiling to nearly €8 billion.

Thanks to the EPF, the EU has been able to provide military support to a diverse range of countries, including Ukraine, Mozambique, Georgia, Moldova, Bosnia and Herzegovina, Somalia, Niger, Mauritania, Lebanon, and Jordan. It has also allowed the Union to finance the military components of African-led Peace Support Operations and multinational units such as the Balkan Medical Task Force. The decision to increase the EPF’s funding will ensure the Facility’s financial sustainability and predictability in the longer term. It will also preserve its global geographical scope and the EU’s ability to prevent and swiftly respond to crises and conflicts.

Commenting on the decision, Josep Borrell, EU High Representative for Foreign Affairs and Security Policy, said: “This decision is intended to ensure the EPF financial sustainability and predictability in the longer term, and preserve its global geographical scope and the EU's ability to prevent and swiftly respond to crises and conflicts. Today’s decision will again ensure that we have the funding to continue delivering concrete military support to our partners’ armed forces.

This is already the second increase of the European Peace Facility funding since its creation in 2021. In less than two years, the Facility has proven its worth. It has completely changed the way we support our partners on defense. It makes the EU and its partners stronger.” The EU’s increased commitment to the EPF is also a clear political signal of its enduring commitment to military support for Ukraine and other partners alike.