The funding will go to several Swedish arms makers, including EURENCO and SWEBAL
Sweden announced a total €45 million (500 million Swedish kronor) investment to boost the country’s ammunition production and support EU funding under the European Defence Industry Programme.
“The government is investing 500 million kronor in Swedish production of gunpowder, explosives, and other critical components. (…) If the EU invests 250 million kronor (€22.7 million) in a Swedish project, the state matches it with an equal amount, while industry covers the rest,” Defence Minister Pål Jonson said on social media on Wednesday morning.
This investment will provide national co-financing for companies applying for EU funding under the EU’s €1.5 billion European Defence Industry Programme (EDIP).
Arms makers can receive a share of the €166.4 million under EDIP earmarked specifically for the production of propellant powder, explosives, propulsion systems, warheads and electronic fuses, filling plants, and raw materials.
