~6 0~p>The EU's lending arm is in talks to begin investing in defense companies.
Germany and France have joined the 12 other European Union countries in calling on the European Investment Bank to increase defense funding to bolster the bloc's security against Russian aggression.
This is reported by Bloomberg with reference to a letter dated March 17, which was sent to EIB President Nadia Calvino, European Council President Charles Michel and Belgian Prime Minister Alexander De Croo.
“We need to explore different options that will allow the EIB to invest in defense-related activities other than existing dual-use projects,” the letter says.
The letter to the EIB was signed by the leaders of Finland, Bulgaria, the Czech Republic, Denmark, Estonia, France, Germany, Italy, Latvia, Lithuania, the Netherlands, Poland, Romania and Sweden.
The EU's lending arm is in talks with the bloc's executive branch and other interested parties to begin investing in military companies producing defense products.
EU leaders will meet on March 21-22 to discuss security, including the EIB's role in defense preparedness.
The letter comes as Ukraine struggles to acquire more ammunition and persuade its allies to provide more help in the face of Russian aggression.
We would like to remind you that after two years of high-intensity war in Ukraine, the available European military reserves are exhausted. Now it is necessary to develop the defense industry of the EU countries in order to replenish their own reserves and continue to provide military assistance to Ukraine.
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