The UK government plans to create a "defense bank" to rearm its Northern European allies in the fight against the Russian Federation. This is reported by The Telegraph, according to UNN.
Details
It is noted that these plans could be modeled after a similar European Union lending scheme worth 150 billion euros, which finances the procurement of weapons by the bloc's member states.
Plans to create a "Joint Expeditionary Force" bank would allow the alliance of 10 Northern European NATO countries to finance security projects by borrowing money at lower interest rates
It is indicated that if implemented, the bank would serve 9 NATO countries in addition to the UK: Norway, Finland, Sweden, Estonia, Latvia, Lithuania, Denmark, Iceland, and the Netherlands.
"Last month, three of its members – the UK, Finland, and the Netherlands – committed to start working on a new mechanism that will be used to finance multinational defense plans, increase industrial production, purchase weapons, and provide military aid to Ukraine," the publication writes.
Recall
The UK announced its largest aid package, including 120,000 strike and reconnaissance UAVs. Deliveries have already begun as part of the £3 billion support package.
Great Britain allocates $133 million for air defense for Ukraine27.03.26, 17:36