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A European Defence Fund: €5.5 billion per year to boost Europe's defence capabilities

7 August 2017

On the 7th of June 2017, the European Commission launched a European Defense Fund to support Member States in coordinating and preventing duplication in their R&D and acquisition expenses in the defense sector.

The Fund will be used to co-finance development and procurement of defense equipment and technology, when performed in collaboration between at least 3 participants from different Member States. €500 million have been earmarked for co-financing such projects between 2019-2020.

Source: European Commission