(Bloomberg) -- Germany plans to buy six IRIS-T SLM air-defense systems for a total estimated cost of about €950 million ($1 billion) and is also moving ahead with the purchase of the Israeli-made Arrow air-defense system for as much as €4 billion.

The procurements, which will be financed from a special €100 billion fund the government established to help modernize the military, are due to be approved by the lower house of parliament’s budget committee at a meeting Wednesday in Berlin, according to government documents seen by Bloomberg.

At least 15 countries, mainly from the NATO military alliance, in October signed a letter of intent on joining a German-led project to create a European anti-missile shield. The initiative was first announced by Chancellor Olaf Scholz in a speech in Prague in August, when he said the country would invest significantly in its air defense as the continent had “a lot of catching up to do.”

Germany has also supplied Ukraine with two of the advanced IRIS-T systems to help it defend itself against Russian attacks. The system is manufactured by Germany’s Diehl Defence GmbH & Co. KG. Hensoldt Sensors GmbH, Airbus Defence and Space GmbH, Rheinmetall MAN Military Vehicles GmbH and Rohde & Schwarz GmbH & Co. KG will also be involved as subcontractors.

Following Russia’s full-scale invasion of Ukraine last year, Scholz’s ruling coalition abandoned a long—held German policy of not sending weapons to conflict zones and has been one of the most generous suppliers of military hardware to the government in Kyiv, along with financial and humanitarian aid.

In an historic policy shift, Scholz also announced the creation of the €100 billion fund to bolster Germany’s armed forces after years of neglect.

At Wednesday’s meeting, the Bundestag budget committee is due to approve a preliminary agreement for Germany to buy the Arrow system at an initial cost of as much as €560 million, according to the government documents.

The first IRIS-T system should be delivered in 2024 and the second in 2025. Another three units are planned to be supplied in 2026 and the final one in 2027.

(Updates with details on funding, Arrow system starting in second paragraph)

©2023 Bloomberg L.P.