EU DEFENCE FUND
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New EU funding and procurement architecture for Ukraine shifts towards arms contracts
The European Commission has put forward a new two-year financial package designed to cover a large share of Ukraine’s forecast needs in 2026 and 2027, while tying a substantial portion of EU-level support more directly to defence procurement. The proposals,…
Europe’s defence spending soars as Readiness 2030 takes shape
European defence budgets have risen sharply since Russia’s full-scale invasion of Ukraine in February 2022. The latest consolidated EU figures show total defence expenditure by the 27 member states reached €343 billion in 2024, equivalent to 1.9 per cent of…
Brussels proposes €90bn EU loan scheme for Ukraine covering 2026–27
The European Commission has proposed a €90 billion EU-backed loan for Ukraine for 2026 and 2027, splitting the package between budget support and military procurement and linking disbursements to reform and oversight conditions. The Commission says it wants the first…
March launch for EU SAFE defence lending, with early tranche planned
The European Union is preparing to make the first payments under its Security Action for Europe (SAFE) defence loans in March 2026, in what officials describe as an attempt to accelerate joint procurement and address shortages in key military capabilities.…
Slovak arms deal sets €58bn framework for EU ammunition supplies
Slovak ammunition manufacturer ZVS Holding has signed a seven-year framework agreement with the Ministry of Defence of the Slovak Republic to supply large- and medium-calibre ammunition to EU member states, with a potential value of up to €58 billion. The…
Rheinmetall to build propellant plant in Romania as EU expands defence production
Rheinmetall will build a new ammunition and propellant plant in central Romania under a joint venture with the state-owned Pirochim Victoria, as EU member states move to expand industrial capacity for artillery supplies amid the war in Ukraine. The agreement…
Europe’s first defence-labelled bond: BPCE raises €750m under Euronext initiative
Groupe BPCE, the French banking group that owns Natixis, has issued Europe’s first bond explicitly labelled for defence financing, raising €750 million via a five-year note. The deal attracted strong demand, with orders of about €2.8 billion, according to market…
A Drone Surge Could Tilt the Balance in Ukraine’s War Against Russia
A large-scale Western-funded expansion of Ukraine’s drone capabilities could decisively alter the course of Russia’s invasion, according to a new analysis by Atlantic Council senior fellow Mark Boris Andrijanič. Writing for the Washington-based think tank, Andrijanič argues that investment in…