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The proposed new EU multi-annual budget for the period 2021-2027 substantially boosts funding for security and defence. The European Peace Facility is an additional funding mechanism proposed to fall outside the framework of the Multiannual Financial Framework. Worth €10.5 billion over the seven-year period, the EPF is designed to offer more flexible and faster funding for security and defence at European level in comparison with what can currently be done within the limits of the Union's budget. For example in this way EU military missions and operations could be deployed more rapidly and have better access to training, infrastructure or military equipment.
It is important to note that the decision on how much each EU Member State spends or invests in defence remains a national competence. The EPF will not change this but will allow Member States to act faster and more effectively together.
In order to enhance the coherence of the EU’s actions, the new facility is proposed to absorb currently-existing off-budget mechanisms, namely the Athena mechanism and the African Peace Facility, devoted to security and defence.
The European Peace Facility is not the only new funding instrument in the field of security and defence. The European Commission already proposed earlier the establishment of a European Defence Fund (13 billion Euro over seven years, 2021 - 2027). It will coordinate, supplement and amplify national investments in defence. The objective is to use national defence spending more efficiently, make the European defence industry more competitive in the global market, equip national military better and strengthen the EU's role as a global research hub.
High Representative Mogherini submitted in 2016 the new "Global Strategy for the EU's Foreign and Security Policy" which outlined the way forward for a higher level of ambition in the area of security and defence. Since then a whole range of important decisions has been taken. The European Peace Facility proposed now is a further important building bloc in this new architecture. The Global Strategy and subsequent action taken are a response to the demand for a larger EU role in security and defence by European citizens and our partners in the world.