The European Defense Industrial Strategy (EDIS) should receive the necessary funding - Estonia, France and Poland have called on EU member states to increase the amount of funds for the defense industry. In turn, the EU executive is preparing to propose a strategy for the reindustrialization of the defense sector.
This is reported by UNN with reference to Euractiv.
Details
Insufficient funding today will only lead to higher costs later
(EDIS) should be supported by adequate funding, and to this end, we ask the Commission to present specific funding options.
According to the statement, this refers to the period up to the next MFF [Multiannual Financial Framework], the EU's seven-year budget for 2028-2035.
It is important to note that the request for increased funding for the defense sector comes as the European Commission on Tuesday (March 5) released its defense strategy.
It points to increased cooperation in the procurement and production of defense equipment across the continent.
France, Poland, and Estonia emphasize in a joint document that compensating for decades of underinvestment in the armed forces requires much more ambitious efforts, in line with national, NATO, and EU requirements. Therefore, the goal is to accelerate the production of ammunition in Europe and stimulate joint procurement.
France and Estonia have also asked the EU to issue bonds to subsidize the arms industry, similar to what the European Commission has done with its €800 billion post-pandemic fund.
In their proposal, the three member states also emphasize that a defense industry that is ill-prepared for the demands of the new security environment "deserves a joint response" and that "EU funds will not be sufficient to achieve important goals, so the EU27 will have to increase its national defense spending.
"We are in a race against time," they warn.
While cooperation should be encouraged, the EU should also consider supporting national efforts by Member States to procure critical munitions, air and missile defense systems and critical capabilities from European industry, taking into account existing supply chains, in order to enhance the readiness of our armed forces
Recall
The European Commission may submit a proposal to use the profits from frozen Russian assets to finance Ukraine's defense industry.
In March, the European Commission will present to the EU Council a framework for negotiations on Ukraine's EU membership.