EU has agreed to create €150 billion loan fund to rearm Europe and help Ukraine, - FT
The European Union has agreed to create a €150 billion loan fund to finance arms.
This is reported by Financial Times, Censor.NET informs.
According to the sources, this mechanism will allow EU member states to take loans from Brussels and use them to purchase weapons, mainly through joint orders.
The publication calls this a historic step, which was facilitated by Russia's aggression against the country and pressure from Donald Trump, who called on Europe to fund its own defence.
On the morning of 19 May, the EU countries reached a preliminary agreement on the parameters of the fund. Formal approval is expected on 21 May.
Earlier, European Commissioner for Defence Andrius Kubilius confirmed that part of the €800 billion ReArm Europe defence plan would be used to provide military support to Ukraine.
