The Council adopted a decision increasing the financial ceiling of the European Peace Facility (EPF) to €7.979 billion (in current prices) until 2027, ensuring that additional financial needs can be covered. "The European Peace Facility has now become an integral part of the EU’s support to promote peace and security globally. Today’s decision brings the financial ceiling of the European Peace Facility to over €7.9 billion. Ensuring the financial sustainability of this instrument is crucial for our support not only to Ukraine, but also for our partners in other parts of Europe, Africa and the Middle East, as needs continue to arise."
Josep Borrell, High Representative for Foreign Affairs and Security policy This decision implements the political agreement reached on 12 December 2022, when the Council decided to increase the overall EPF financial ceiling by €2 billion (in 2018 prices) in 2023, and allow for the possibility of a further increase at a later stage (up to €5.5 billion in 2018 prices until 2027). The Council also decided to set a financial reference amount for the common costs of the EU Crisis Management Military Exercise 2023 (MILEX 23) at €5 million and introduce more flexibility in the collection and use of financial contributions from member states and in their use by the facility. In its conclusions of 15 December 2022, the European Council reiterated the global dimension of the Facility and welcomed the agreement in the Council on 12 December 2022 to ensure its financial sustainability. | 
