Brussels, Oct. 17 -- European Union Commission President Ursula von der Leyen has welcomed the agreement on European Defence Industry Programme (EDIP), which will see EUR1.5 billion towards strengthening European defence industry and supporting Ukraine.

The presidency of the Council and negotiators from the European Parliament (EP) reached a provisional agreement on the EDIP- which is a dedicated financing programme for defence worth EUR1.5 billion for the period 2025-2027, the official website of the Council of the EU and the European Council noted.

EDIP is set to boost the EU's defence readiness by enhancing the competitiveness and also aims to support defence industrial cooperation with Ukraine and Ukrainian companies via dedicated U...