Russia destroys border communities: Ukraine reports intensified shelling of Sumy region
EU plans to raise €800 billion to boost defense capabilities
On Tuesday, March 4, European Commission President Ursula von der Leyen unveiled a new EU initiative aimed at strengthening the bloc’s defense industry and military capabilities
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Reuters reported the information.
According to von der Leyen, the EU plans to secure around €800 billion in defense investments.
As part of the initiative, the European Commission is proposing more financial flexibility for member states to support defense projects, including €150 billion in loans for military-related initiatives.
The plan also aims to stimulate private investment in the defense sector.
- The Estonian Foreign Minister urged European allies to step up support for Ukraine to compensate for the halt in U.S. military aid.
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