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EP wants to spend EUR 500 mn on boosting defence

PR dla Zagranicy
Victoria Bieniek 03.07.2018 14:14
EUR 500 million is to be spent on boosting the European Union’s joint military development under the European Parliament’s plan for the bloc’s first-ever defence industry fund.
Photo: AlexVan/pixabay.com/CC0 Creative CommonsPhoto: AlexVan/pixabay.com/CC0 Creative Commons

The fund, approved by European Parliament on Tuesday, aims to make the bloc more independent. It also wants to see new technologies developed, more innovation, and more efficient spending.

Some EUR 26.4 billion is wasted every year due to duplication, overcapacity and barriers to defence procurement, according to the European Parliament.

Funding will be available to consortia of at least there companies, based in at least three different EU countries if they can prove that they will “contribute to excellence, innovation and competitiveness,” the European Parliament said in a statement.

The EU is looking to fund the development of remotely piloted systems, satellite communications, autonomous access to space and permanent earth observation, energy sustainability, cyber and maritime security, and high-end military air, land and sea capabilities.

French MEP Françoise Grossetête said: “This programme is a historic step forward for European defence industrial projects and responds to three challenges: budgetary efficiency, competitiveness and strategic autonomy. We have achieved in one year of negotiations a promising regulation to improve the innovation capacity of the EU.”

The plan needs to get the green light from the European Council before it goes ahead. The European Parliament said that the first capability projects are expected to be financed in 2019. (vb)

tags: defence
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