Britain, the Netherlands, Finland and Poland aim to create a new defense mechanism by 2027

The United Kingdom, the Netherlands, Finland, and Poland seek to begin official negotiations as soon as possible on the development of a new Multilateral Defence Mechanism - an innovative funding model designed to accelerate defence investment, stimulate joint procurement, and aggregate demand for critical defence capabilities, with the ultimate goal of meeting the military needs of allies. This is stated in a statement on the website of the British government, reports UNN. 

Ahead of the NATO summit in Ankara, the United Kingdom, the Netherlands, Finland, and Poland reaffirm our shared commitment to strengthening defence funding and improving the cost-effectiveness of defence spending in order to transform our collective defence capabilities. Given the rapid changes in the international security environment and the consequences of Russian aggression against Ukraine, we will act together to be prepared to counter future threats 

It is noted that the countries remain committed to supporting Ukraine in defending its sovereignty and resisting Russian aggression.

We are making significant progress in developing a new Multilateral Defence Mechanism together with partners. The MDM is a new innovative funding model designed to accelerate defence investment, stimulate joint procurement, and aggregate demand for critical defence capabilities, with the ultimate goal of meeting the military needs of allies who share our views. We aim to move to formal negotiations on concluding the Treaty as soon as possible, respecting the ratification processes of individual members, while maintaining the shared goal of establishing the MDM by 2027. In developing the technical details of this model, we have benefited from the support of a broader circle of allies 

Recall 

Canada intends to announce about 10 founding countries of a global defence bank at the NATO summit in Turkey next week.