Announced on 13 June by EU High Representative Federica Mogherini with the support of the European Commission, the proposed European Peace Facility (EPF) is part of a package of measures designed to boost the EU’s security and defence capabilities.
“The European Peace Facility, noted the High Representative, would allow the EU to be much more efficient in deploying our military missions, but also to better support our partners in dealing with our shared security challenges.”
In addition to the EPF, A €13 billion European Defence Fund will provide the financial firepower for cross-border investments in state-of-the-art and fully interoperable technology and equipment in areas such as encrypted software and drone technology.
The proposed European Peace Facility is a new off-budget fund worth €10.5 billion over a seven-year period coinciding with the timeframe of the next Multiannual Financial Framework. It should substantially enhance the Union’s ability to finance operational actions under the Common Foreign and Security Policy (CFSP) that have military or defence implications, and that therefore cannot be financed under the EU budget. It would draw together and enhance existing off-budget mechanisms devoted to security and defence, thereby overcoming their gaps and limitations.
Original source: EC
Published on 12 June 2018
