Lithuania has submitted an application for EUR 6.375bn of support from the European Commission’s Security Action for Europe (SAFE) instrument to finance around 50 defence projects, BNS reports. Deputy Defence Minister Karolis Aleksa said that Lithuania would use the EU funds to acquire tanks or tracked infantry fighting vehicles for a national army division. Also,…
The EU should take on joint debt to finance defence spending, Gediminas Simkus, board chairman of the Bank of Lithuania, stated, BNS reports. Speaking in an interview with Politico, Simkus called for “more unity in defence” in the EU, noting that the European defence industry market was still very fragmented. He said that the “time…
Estonia will have to borrow more to raise defence spending above 5% of GDP, Foreign Minister Margus Tsahkna stated, ERR reports. Speaking in an interview with Vikerraadio, Tsahkna said that Estonia would try to obtain as much financing as possible under the EU’s SAFE instrument. The Finance Ministry is now analysing how much SAFE funding…