EIB should help strengthen EU defense, says Greek FinMin

Finance Minister Kostis Hatzidakis insisted on Friday that it is necessary for the European Investment Bank (EIB) to take on a greater role in strengthening the defense capability of Europe.

Speaking during the meeting of the EIB Board of Governors, Ecofin and the Eurogroup in Luxembourg, he said, "The negative developments in the global geopolitical scene have made it imperative to increase Europe's defense capability. The Security and Defense Action Plan adopted last May is a first step and we should now focus on its swift implementation - keeping the door open for further initiatives should the need arise."

The EIB Board of Governors approved the New Strategic Charter 2024-27, which foresees, among others, the opening of lines of credit to companies active in the defense sector. The definition of "dual use" products was reviewed, which will make it easier to...