The EU wants to subsidize the European defense sector with billions of euros over the next decade. The European Parliament and EU member states agreed today in Brussels with the EU Commission on the establishment of a European Defense Fund. This will „promote technological innovation and cooperation,“ said EU Industry Commissioner Elzbieta Bienkowska.
The financial resources are still dependent on the budget, which has not yet been decided, for the period from 2021 to 2027. In June 2018, the Commission proposed allocating € 13 billion to European arms development in the next financial framework. € 4.1 billion will be dedicated to defense research and development, and € 8.9 billion to joint military capacity building projects.
The agreement of the Authority with the Member States and the Parliament now provides that in principle only companies with headquarters in the EU or associated countries can receive support. Associated countries currently include 16 countries, including Norway, Switzerland, Tunisia, Albania and Ukraine.
