Europe is investing in the defense industry to increase production.

The European Commission has announced an increase in its assistance to the European defense industry with the approval of a program provided for by the Act in Support of Ammunition Production (ASAP) for 2023-2025.

“ASAP will allocate €500M to support investment projects worth up to €1.4B, thereby stimulating the increase in the production of ammunition and missiles in the EU,” the message reads.

“In the new geopolitical realities, Europe must increase its defense readiness. With the help of ASAP, we are supporting the European defense industry to produce more, and faster, of the ammunition we need for Ukraine and the security of the member states,” said the EC member Thierry Breton.

For the first time, the European Commission is organizing a call for proposals for the selection and financing of projects that “improve European defense production capacities and support the sustainability of the relevant supply chains.”