Kiev to Allocate $60Mln for Purchases of Military Equipment - Poroshenko

Kiev authorities will allocate an additional sum for weaponry purchases, Ukrainian President Poroshenko said Monday.

KIEV (Sputnik) — Kiev authorities will allocate an additional sum of over $60 million for purchases of new weaponry, and some $540 million for the construction of a NATO-standard ammunition production plant, Ukrainian President Poroshenko said Monday.

"Among other things, 1 billion 600 million hryvnias (some $615 million) will be spent on the purchase of new weapons and military equipment," Poroshenko's press service quoted the president as saying in an address to the National Security and Defense Council of Ukraine.

According to Poroshenko, additional funds will allow Ukraine to boost production of Oplot tanks, new missiles and other military equipment.

The president also said that Kiev is planning to allocate some $540 million for construction of an ammunition plant according to NATO standards to ensure domestic production of ammunition compatible with NATO equivalents.