You are now being redirected to the BCE.ca website (Bell Canada Enterprises), where you can view our Accessibility plan, and submit your feedback using our Accessibility webform.
Mar 29, 2023
Germany Boosts Military Support for Ukraine by €12 Billion
(Bloomberg) -- The German government plans to increase its financial support for Kyiv by as much as €12 billion ($13 billion) to help arm Ukraine in its fight against Russia, people familiar with the matter said.
Defense Minister Boris Pistorius will get the green light from parliament’s budget committee on Wednesday to more than double the pot for this year to €5.4 billion, according to the people, who asked not to be identified discussing confidential information.
A further €8.8 billion will be made available if needed in coming years, they said.
The additional aid represents an overall increase of €12 billion to €14.2 billion. The money isn’t contained in the regular defense budget, nor is it part of a €100 billion special fund set up for the rearmament of Germany’s armed forces.
The committee is also expected to approve a plan to purchase 10 self-propelled, rapid-fired howitzers from Krauss-Maffei Wegmann GmbH & Co. KG to replenish German stocks previously sent to Ukraine.
©2023 Bloomberg L.P.
BNN Bloomberg Picks
Trending today: Apple WWDC event, Hollywood deal, unruly Delta Air passenger
Pay gap leaves women faring worse than men amid rising living costs: Survey
6 spring cleaning tips to put a shine on your portfolio
Inside the making of Redfall, Xbox's latest misfire
What does Nvidia's success mean for Canadian firms and the broader industry?
How happy are Canadians in the workplace? Satisfaction is on the rise