“The EU considers the redirection of “KOVID” 93 billion euros for defense – FT February 19, 20:33 Share: Ursula von Der Lyen (photo: Reuters/Johanna Geron) in the European Union considers the possibility of redirecting 93 billion euros in the defense sector to recover after the Covid-19 pandemic. This option of financing at a meeting of the center -right European People’s Party was mentioned by the President of the European Commission Ursula von der”, – WRITE ON: ua.news
Ursula von Der Lyen (photo: Reuters/Johanna Geron)
The European Union considers the possibility of redirecting into the defense sector of EUR 93 billion, which were allocated for recovery after the Covid-19 pandemic.
The President of the European Commission Ursula von Der Lyen mentioned this option at a meeting of the center -law of the European People’s Party, Financial Times reports, referring to four people who are familiar with the course of discussion.
93 billion euros are funds that have not been used from the recovery and sustainability fund (RRF) for 800 billion euros, which the EU has agreed to engage jointly to stimulate its economies after the pandemic.
According to the newspaper, over the next decade, the EU will require approximately 500 billion euros for additional needs for defense financing.
According to the European Commission spokesman, to raise funds with RRFs, it is necessary to amend the Fund’s rules that most EU countries and the European Parliament should be supported.
The rest of the funds that will be provided in the form of loans can be used for investment in research projects, as well as in double-use infrastructure, such as airports.
FT reports that in recent months, European officials have discussed the plan for creating an intergovernmental mechanism for funding defense. It can also include the United Kingdom and Norway. This can help to get over the veto of neutral or friendly countries that do not support the use of a joint budget for defense, said in the material.
“The rate is the fate of Europe.” Over the following weeks, the EU should accelerate the supply of weapons to Ukraine – von der Lyen
In 2021, the EU created a recovery and resistance fund (Rrf). The money was to be allocated to EU Member States for six years to increase government investments and assist in overcoming the consequences of the pandemic.