EU defense agency gains bigger role in bank loans for military projects

seekingalpha10-04

The European Union’s state-owned development bank and the organization’s defense agency on Thursday updated an agreement to bolster the region’s defense industry. With the new memorandum of ...

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With the new memorandum of ...</p>\n\n<a href=\"https://seekingalpha.com/news/4156153-eu-defense-agency-gains-bigger-role-in-bank-loans-for-military-projects\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"RYCEY","symbol_name":"Rolls Royce Holdings plc","start_time":0,"source_url":"https://seekingalpha.com/news/4156153-eu-defense-agency-gains-bigger-role-in-bank-loans-for-military-projects","article_id":"2472843646","we_media_id":null,"thumbnails":["https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1298408511/image_1298408511.jpg"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2472843646","pubTimestamp":1727972587,"sourceInfo":{"source_id":"seekingalpha","name":"Seeking Alpha"},"weMediaInfo":null,"summary":"The European Union’s state-owned development bank and the organization’s defense agency on Thursday updated an agreement to bolster the region’s defense industry. With the new memorandum of understand","collect":0,"end_time":0,"defaultTopTitle":"seekingalpha.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"RYCEY":"Rolls Royce Holdings plc","DRS":"Leonardo DRS, Inc.","BK4187":"航天航空与国防","EADSY":"空中客车集团","RYCEF":"Rolls Royce Holdings plc","BAESF":"BAE Systems PLC","BAESY":"BAE Systems PLC"},"translate_title":"欧盟防务局在军事项目银行贷款中发挥更大作用","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"BAESF":0.9,"BAESY":0.9,"DRS":0.9,"EADSY":0.9,"RYCEF":0.9,"RYCEY":0.9},"content_text":"The European Union’s state-owned development bank and the organization’s defense agency on Thursday updated an agreement to bolster the region’s defense industry. With the new memorandum of understanding, the European Defense Agency will provide industry guidance to the European Investment Bank on the funding of purely military projects. The bank, which is owned by the 27 member states of the EU, traditionally focused on civilian priorities such as climate change and digitizing the economy. “European defense spending has been increasing for eight consecutive years and EU Member States are on course to hit collective spending targets,” Jiri Sedivy, chief executive of the defense agency, said in a statement Thursday. “Yet we still need to pull together our resources to finance joint efforts and boost defense capabilities.” Russia’s invasion of Ukraine in 2022 added a sense of urgency to the EU’s defense objectives. Twenty-three EU members also belong to the North Atlantic Treaty Organization. The alliance has prioritized support for Ukraine, even though the country doesn’t belong to the EU or NATO. The EIB and the defense agency in 2018 first signed the memorandum of understanding to outline areas of collaboration. With Thursday’s update, both organizations will work to identify and prioritize defense projects involving EU member states. The projects may include research, development and innovation priorities for the EU defense industry, according to a statement. EU leaders in March asked the EIB to help Europe increase defense output. A month later, the EIB agreed to loosen its rules on financing projects of dual, military-civilian use to include defense projects that may have a possible civilian use. The provision effectively eliminated the possibility of financing fighter jets, ammunition, tanks or guns. 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