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The Czech Republic received the first compensation from the European Union for military assistance to Ukraine

The account of the Czech Ministry of Defense received the first payment in the amount of 6.5 million euros from the European Union as compensation for military equipment delivered to Ukraine. This was reported by the press service of the department.

Compensations are made through the European Peace Fund (EPF), which serves to fund the EU’s defense and security priorities. This was the first payment, and subsequent amounts will be paid to the Czech Republic gradually in subsequent years.

The Czech Republic received a refund for the supply of military equipment in the amount of approximately 80 million euros, which will be reimbursed in the period 2023-2027.

“Supporting Ukraine is our strategic interest and we want to continue it in cooperation with our allies. I appreciate that the EU had no doubts and, immediately after the start of Russian aggression, it attracted financial resources from the European Peace Instrument to support its member states that are helping Ukraine,” Czech Defense Minister Yana Chernokhova said.

European Peace Foundation

The European Peace Fund was originally created to finance EU missions and operations and to stabilize partner countries in the European neighborhood.

As early as February 28, 2022, the EU Council decided that the funds from the fund should also be used to compensate those participating countries that supply Ukraine with military equipment, and allocated the first 500 million euros for this.

Subsequently, several more financial support packages from EPF were approved, proving the total amount of compensation up to 3.1 billion euros.

EPF serves not only to support Ukraine. Its funds are used to support all existing EU military missions and implement supporting security measures in partner countries (eg Georgia, Bosnia, Rwanda, Mauritania or Mozambique).

Source : Мінфін



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