The European Investment Bank is considering ways to expand its support for the defense industry, which will help the EU strengthen its security in response to the growing threat from Russia. This was reported by Bloomberg.
According to a source familiar with the plans, the European Union's lending arm is in talks with the European Commission and other interested parties to start investing in military companies that produce defense products. The EIB's role in ensuring defense readiness will be discussed at the next meeting of EU leaders next week.
The European Union has been trying to increase its defense capabilities in the wake of Russia's invasion of Ukraine and years of underfunding by member states. This month, the bloc announced an initial €1.5 billion to boost the sector, but EU industry chief Thierry Breton has called for €100 billion in investment.
"We are ready to do more to contribute to joint projects that stimulate European industry and strengthen Europe's defenses and deterrence," EIB President Nadia Calvino said last month after a meeting of EU finance ministers.
The European Investment Bank is ready to finance defense against the threat from Russia - Bloomberg
- Economics
- 13 March 2024 -15:40
-
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The European Investment Bank is ready to finance defense against the threat from Russia - Bloomberg
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The European Investment Bank is considering ways to expand its support for the defense industry, which will help the EU strengthen its security in response to the growing threat from Russia. This was reported by Bloomberg.
According to a source familiar with the plans, the European Union's lending arm is in talks with the European Commission and other interested parties to start investing in military companies that produce defense products. The EIB's role in ensuring defense readiness will be discussed at the next meeting of EU leaders next week.
The European Union has been trying to increase its defense capabilities in the wake of Russia's invasion of Ukraine and years of underfunding by member states. This month, the bloc announced an initial €1.5 billion to boost the sector, but EU industry chief Thierry Breton has called for €100 billion in investment.
"We are ready to do more to contribute to joint projects that stimulate European industry and strengthen Europe's defenses and deterrence," EIB President Nadia Calvino said last month after a meeting of EU finance ministers.