German chancellor Olaf Scholz’s governing coalition has agreed in principle to double the country’s military aid for Ukraine next year to 8 billion euros, a political source in Berlin said, writes Reuters.

If approved by parliament, where Scholz’s parties hold a majority, the boost would lift Germany’s defence spending to 2.1% of its gross domestic product target, beyond the 2% pledged by all North Atlantic Treaty Organization members, the source added.

Lawmakers from Scholz’s Social Democrats, the Free Democrats and the Green party agreed on the increase in negotiations over the proposed 2024 federal budget ahead of a formal meeting of the budget committee of the Bundestag - or lower house of parliament - on Thursday, Nov. 16, the source said.

Bloomberg News first reported on the news on Saturday, citing people familiar with the matter.

A spokesperson for Germany’s Ministry of Defence said the Bundestag committee has not finished negotiations and declined to comment further.