European Commission calls upon EIB to finance defense spending

The European Commission called on the European Investment Bank (EIB) to change its policy and start funding defense projects within this year, as part of the EU's first-ever strategy for the defense industry. Currently, military equipment spending is excluded from EIB's financing activities. However, the Commission urges for this exclusion to be revised, allowing the EIB to support defense equipment production and the broader European defense industry.

The President of the EIB stated that the bank has €6 billion earmarked for investments in the defense sector, emphasizing the need to strengthen Europe's defense industry. This comes amid calls for increased defense readiness following Russia's continued invasion in Ukraine.

The EIB's funding plays a significant role in supporting investments across various sectors in the EU, particularly in regions with lower income levels.

Source: forsal.pl