Brussels

EC moots common European defence fund (2)

To boost R&D, common asset buying

EC moots common European defence fund (2)

Brussels, November 30 - The European Commission on Wednesday proposed setting up an EU fund for common defence, to boost investments in research and development for equipment and technologies. On the research front a budget of 25 million euros is foreseen for 2017, rising to 90 million by 2020. A financial instrument to fund common purchasing of assets is estimated to mobilise around five billion euros a year. The proposed common defence fund is part of a action plan for European defence, which was presented at a press conference by EU foreign policy chief Federica Mogherini, EC Vice President for Growth Jyrki Katainen and Single Market Commissioner Elzbieta Bienkowska. photo: Mogherini

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