European Union finance ministers will meet on Monday to discuss defense funding, including the possibility of new joint borrowing, the use of existing EU funds, and the expansion of the role of the European Investment Bank.
According to Reuters, the meeting will build on decisions made by EU leaders last week. In an invitation to the ministers, Polish Finance Minister Andrzej Domanski emphasized that Europe must reconsider its approach to defense spending amid the evolving security landscape.
Ministers will discuss the European Commission’s proposal to raise €150 billion under EU budget guarantees to provide loans for defense projects. They will also consider using EU cohesion funds to finance dual-use projects that benefit both civilians and the military.
Another key topic will be expanding the European Investment Bank’s mandate to finance defense initiatives. On Tuesday, ministers will also discuss potential changes to EU fiscal rules to allow for increased national defense spending.
