MNI BRIEF: EU To Approve Boost To EIB Defence Lending
European leaders will approve a boost in European Investment Bank lending to the defence sector, to be made possible by expanding the definition of non-lethal dual-use technologies which qualify for loans, according to draft conclusions of a March 21-22 summit.
The increase in lending could total EUR4-7 billion, officials told MNI.
French President Emmanuel Macron has proposed EU war bonds and Industry Commissioner Thierry Breton last month called for EUR100 billion to finance joint arms procurement, but officials said there no details yet on how a defence spending surge could be financed.
Proposals for war bonds or long-term contracts for ammunition production are still opposed by many countries. Some frontline Baltic and Nordic countries are supporters but neutrals, such as Austria, Luxembourg and Ireland, are opposed. Germany is also reluctant.