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Germany Pledges €300 Million for Czech Ammunition Plan

(Bloomberg) -- Germany has pledged to spend €300 million ($326 million) as part of a Czech-led initiative to buy 800,000 rounds of ammunition for Ukraine, according to people familiar with the decision.

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The amount of money that the government in Berlin is putting on the table would be sufficient to cover the cost of around 180,000 shells, the people said. They declined to be named because the talks are private.

More than a dozen western nations including Canada, the Netherlands and France have coalesced around the plan that would see the Czech government acting as a middleman in sourcing artillery rounds from outside the European Union.

Ukraine is looking increasingly outgunned on the battlefield as Russia is ramping up domestic military production and buys ammunition from countries such as North Korea. The EU’s own plan to deliver 1 million shells to Kyiv has been delayed until the end of the year.

As of two weeks ago, the Czech government said it had received enough funding to buy 300,000 rounds and planned to deliver more. The first deliveries may reach Ukraine by June.

Read more: Czech Premier Says Money Received for 300,000 Shells for Ukraine

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