EU to direct regional development funding towards defense
- The EU plans to redirect over 90% of its €392 billion regional development fund towards the defense sector amidst security challenges due to the Russian invasion of Ukraine.
- The European Commission will urge member states to focus on large enterprises in defense while also supporting the growth of innovative small and medium-sized enterprises into small midcaps.
- This mid-term review allows countries to transfer funds from the cohesion fund to InvestEU, boosting private investment in strategic sectors.
- The funding shift comes as the EU seeks to enhance its defense capabilities, especially in response to growing threats from Russia.
15 Articles
15 Articles
The European Commission proposes that especially states neighboring Russia can use cohesion funds for defense-related spending - HotNews.ro
The European Commission proposed on Tuesday that European Union countries, especially those bordering Russia, be allowed to use money they receive from the EU budget to strengthen their…
Water and defence - but not bullets: EU reallocates regional funds
The EU executive has invited member states to redirect regional spending - accounting for one-third of the EU budget - toward various strategic areas such as water resilience and affordable housing, including defence to a limited extent.
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