EU Commits to Massive Defence Investment Boost

The European Union announces an unprecedented increase in defence spending, allocating 800 billion Euros over the next four years to enhance their military readiness by 2030, including 150 billion Euros in loans for weapons projects and exemptions from debt rules for defence investments.

The European Union has unveiled a landmark decision to significantly bolster its defence spending, marking a strategic shift in its military preparedness. Over the upcoming four years, the EU is poised to allocate a staggering 800 billion Euros (USD 868 billion) towards this endeavour.

Key elements of this budgetary surge include 150 billion Euros earmarked for loans designed to fund weapons projects. In addition, EU member states will benefit from exemptions on the existing EU debt rules specifically for defence-related investments, providing them more flexibility in executing their plans.

This transformative decision was solidified during an EU summit held in Brussels, where leaders resolved to accomplish all essential steps to fortify European defence readiness by the year 2030, as noted by several delegations in attendance.

(With inputs from agencies.)