The EU will create a military aid fund for Ukraine in a few days, and Hungary has agreed to finance non-lethal defense aid.

The EU plans to form a €5B military aid fund for Ukraine in 2024 as part of the European Peace Fund, EU High Representative Josep Borrell said.

“We discussed the situation on the battlefield, the situation with military supplies, the creation of an aid fund for Ukraine, which, I hope, will be agreed upon during the coming days within the framework of the European Peace Fund,” Borrell said.

This money should be directed to supplying military equipment and weapons to Ukraine and strengthening the European defense industry’s production capacity in order to produce more ammunition for Ukraine.

At the same time, the Minister of Foreign Affairs of Hungary, Peter Szijjarto, spoke out against the provision of military aid to Ukraine by the EU countries but noted that the Hungarian government is ready to finance non-lethal assistance.