It's a bit murkier than this. The EU will first and foremost give this money to itself:
Under the proposal, 90% of the funds would be initially allocated to the European Peace Facility (EPF), the bloc’s mechanism to reimburse weapons delivered to Kyiv, and then to the newly created Ukraine Assistance Fund (UAF). [ x ]
From this language, it's not even clear whether this money will go to procure new weapons or to reimburse themselves for the already delivered ones. It can go either way or be some mixture of both.
Crazy how 10 years ago AMD was a penny stock, around $4 vs Intel's $27, and now they're $135 and $20 respectively. I think abt this more than I should because I've always been team red and almost bought it. But now it's too gambly to buy any