EU Commission President Ursula von der Leyen announced on Tuesday a bold new initiative aimed at strengthening Europe's defense industry and enhancing its military capabilities. The comprehensive plan is expected to mobilize close to 800 billion euros ($841.4 billion).
Under the new proposal, the European Union will provide member states with greater fiscal space for defense investments. This includes introducing 150 billion euros in loans specifically designated for defense projects, facilitating member states' ability to bolster their military infrastructure and technology.
In addition to public funding, von der Leyen emphasized the importance of mobilizing private capital to support the initiative. By encouraging private sector investments, the EU aims to create a more resilient and self-sustaining defense ecosystem across the continent.
This ambitious plan reflects the EU's commitment to securing its strategic interests and ensuring long-term stability in an increasingly complex global landscape. By pooling resources and fostering collaboration among member states, the EU seeks to position itself as a formidable force in both economic and military spheres.
