European Commission President Ursula von der Leyen has proposed a five-point plan, dubbed "ReArm Europe," to boost the EU's defence capabilities and support Ukraine. The plan includes easing budget rules to allow member states to spend an additional 1.5% of GDP on defence over four years, creating a €150 billion loan facility for targeted defence investments, repurposing cohesion funds for defence purposes, establishing a savings and investment union to help companies access capital, and lifting curbs on defence investments by the European Investment Bank. The plan aims to mobilise up to €800 billion in defence expenditures and provide immediate military equipment to Ukraine.
https://www.forbesindia.com/article/news/rearming-europe-eu-chief-unveils-800billioneuro-plan/95477/1The EU is considering allowing member states to use cohesion funds for defense, lifting limits on lending by the European Investment Bank to defense firms, and creating a savings and investments union to help companies access capital amid growing tensions with Russia and potential US withdrawal from Ukraine.
https://www.thenews.com.pk/latest/1288674-eu-chief-unveils-800-billion-euro-plan-to-rearm-europeThe European Union is proposing new measures to support Ukraine's military efforts. The plan includes repurposing "cohesion" funds for defense purposes, creating a savings and investments union to help companies access capital, and lifting curbs on defense investments by the European Investment Bank. EU leaders have welcomed these proposals as an "important first step" towards strengthening their defense capabilities, with some countries like Germany, Italy, Portugal, Estonia, and Greece expressing positive reactions. The measures aim to address concerns about US support for Ukraine dwindling, but it's unclear if a deal will be reached on delivering new weaponry to the country by Thursday's Brussels summit.
https://www.thehindu.com/news/international/eu-chief-unveils-800-billion-plan-to-rearm-europe/article69291731.ece