EU Ready To Finance Increased Weapons, Munition Production To Replenish Stocks - Borrell

MOSCOW (Pakistan Point News / Sputnik - 08th December, 2022) The European Union is ready to finance an increase in the production of weapons and ammunition to replenish the stock of the European states, High Representative of European Union for Foreign Affairs Josep Borrell said on Thursday.

"Now we are entering a new phase, we have reach out to the defense industry, asking the relevant companies to provide information on their production capacity. We did the same thing with the vaccines some months ago, now we are asking about the industrial capacity of the defense sector how much can you produce, because we know that we have to help you, have to help the defense industry to ramp up, to increase the production capacity," Borrell said at the EDA Annual Conference 2022 Investing in European Defense.