Brussels: European Commission President Ursula von der Leyen has announced that the European Union (EU) is set to invest up to €800 billion to strengthen its defense industry and enhance military capabilities.
Speaking at a press conference, von der Leyen emphasized that Europe is prepared to increase its defense spending significantly. She stated that the EU will propose greater financial support for member states' defense expenditures.
As part of this initiative, the EU also plans to offer €150 billion in loans to support defense-related projects.
“We are entering a new era of rearmament,” von der Leyen said, highlighting Europe's commitment to scaling up its defense efforts. She pointed to both short-term responses, such as military aid to Ukraine, and long-term strategies aimed at ensuring Europe takes full responsibility for its own security.
