Nineteen European Union countries, including France and Germany, are calling for the European Investment Bank to boost lending for the defence industry as the 27-nation EU seeks ways to improve its military against a possible future Russian attack.

The EIB, the largest multilateral lender, will double its funding for defence and security from €1 billion to €2 billion by 2025. Its group president defends a proactive approach to both sectors within the bank's remit.

The leaders of Germany, France, Italy and 16 other European states have called for the EU ’s investment bank to ease restrictions on lending money to invest in military projects. The joint call from a majority of EU member states comes as all 27 leaders are due to meet on Monday, for a summit in Brussels discussing Europe’s defence and security.

Faced with a flagging economy and heightened competition with the United States, Commission President Ursula von der Leyen is trying to harness the EU’s €1.2 trillion common cash pot to boost the bloc’s autonomy in a bid to make Europe economically strong again.

Germany and 18 other European Union countries on Friday spoke out in favour of expanding arms financing through the European Investment Bank (EIB) days ahead of an EU leaders' defence meeting. "By expanding funding mechanisms and employing all available means,

Nineteen of 27 EU countries — including France, Germany and Finland — called on the bloc's lending arm, the European Investment Bank, to increase funding for defense, in a letter circulated Friday.

The European Investment Bank (EIB) touted record climate-related spending in 2024, with nearly 60% of its total operations going in support of the green transition, but concerns remain over the transparency of the bank's sustainability reporting.

A letter signed by 19 EU countries means there appears a majority to allow more lending for defence projects – but that doesn't mean it's guaranteed.

The European Commission set out a years-long plan to regain competitiveness in global industries, as European businesses face fierce competition from China and new challenges under U.S. President Donald Trump.

The European Commission released a five-year plan to increase innovation and compete with China and the U.S. BRUSSELS (Reuters) – The European Commission set out a years-long plan to regain competitiveness in global industries, as European businesses face fierce competition from China and new challenges under U.S. President Donald Trump.

While Donald Trump’s second administration turns its back on climate action, Europeans can gain a competitive advantage through funding and developing low-carbon technologies. This requires targeted income,

Von der Leyen insisted that the European Union was “staying the course on the objectives of the European Green Deal” and that climate targets wouldn’t change. The Commission even rearranged some paragraphs while drafting the Compass to emphasize innovation and decarbonization.