The European Parliament has approved the European Union’s first defense industry program, aimed at strengthening joint defense procurement, boosting industrial production, and increasing support for Ukraine.
The “European Defence Industry Programme” (EDIP), proposed by the European Commission in March 2024, passed in plenary with 457 votes in favor and 148 against, the Parliament announced.
EDIP includes a €1.5 billion budget, of which €300 million will be directed to the “Ukraine Assistance Fund.” The initiative is designed to reinforce Europe’s defense technology and industrial base and enhance the EU’s overall defense capabilities.
The program will establish a legal framework for joint European defense projects. To qualify for funding, a project must involve at least four EU member states, with the possibility of including Ukraine as a participating country.
The legislation will now require approval from EU member states before being published in the Official Journal of the European Union and entering into force.
“The European defense industrial base consists of a network of large multinational companies, mid-sized firms, and more than 2,000 small and medium-sized enterprises, generating an estimated annual turnover of €70 billion,” the Parliament said.