BRUSSELS (dpa-AFX) – The European Investment Bank (EIB) wants to support the Defense industry expand greatly. Last year, the development bank reached a record one billion euros in investments in the areas of security and defense, said EIB President Nadia Calviño at a meeting with EU finance ministers in Brussels. She expects this amount to double in 2025.
EU wants to greatly expand the arms industry
Against the backdrop of Russia’s war of aggression against Ukraine, the EU is trying to ramp up arms production. To this end, the EIB’s previously applicable requirements for cash flows into industry were changed last year. At the same time, politicians are increasingly calling on the financial sector to invest more in security and defense.
Many of the EU countries are also NATO members and are under additional pressure after US President Donald Trump repeatedly called on them to dramatically increase their defense spending./rdz/DP/mis
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