Latest news with #EuropeanCompetitivenessFund
Yahoo
38 minutes ago
- Business
- Yahoo
EU Commission to propose dedicated defence and space investment in new fund
BRUSSELS (Reuters) -The European Commission will propose dedicating part of a new European Competitiveness Fund to resilience, defence and space, the EU executive's leadership said on Wednesday. The Commission is expected to put forward a plan for a competitiveness fund to invest in strategic sectors and innovation as part of an upcoming proposal for the bloc's 2028-2034 budget. "The gap to fill, after years of underinvestment and under attention to defence, is large," European Commission President Ursula von der Leyen and EU foreign policy chief Kaja Kallas wrote in a letter to European leaders on Wednesday. "This is why the Commission's proposal for the next Multiannual Financial Framework will also address the need for substantial funding for defence in the years to come through a dedicated Resilience, Defence and Space window of the European Competitiveness Fund," they wrote. EU leaders are expected to discuss defence priorities during a summit in Brussels on Thursday. The discussion will take place a day after a NATO summit in The Hague, where alliance members committed to boosting defence spending to 5% of Gross Domestic Product.
The Star
10 hours ago
- Business
- The Star
EU Commission to propose dedicated defence and space investment in new fund
European Union High Representative for Foreign Affairs and Security Policy Kaja Kallas walks, on the day of a meeting on the latest developments in Ukraine and security in Europe, at Villa Madama in Rome, Italy, June 12, 2025. REUTERS/Guglielmo Mangiapane/File Photo BRUSSELS (Reuters) -The European Commission will propose dedicating part of a new European Competitiveness Fund to resilience, defence and space, the EU executive's leadership said on Wednesday. The Commission is expected to put forward a plan for a competitiveness fund to invest in strategic sectors and innovation as part of an upcoming proposal for the bloc's 2028-2034 budget. "The gap to fill, after years of underinvestment and under attention to defence, is large," European Commission President Ursula von der Leyen and EU foreign policy chief Kaja Kallas wrote in a letter to European leaders on Wednesday. "This is why the Commission's proposal for the next Multiannual Financial Framework will also address the need for substantial funding for defence in the years to come through a dedicated Resilience, Defence and Space window of the European Competitiveness Fund," they wrote. EU leaders are expected to discuss defence priorities during a summit in Brussels on Thursday. The discussion will take place a day after a NATO summit in The Hague, where alliance members committed to boosting defence spending to 5% of Gross Domestic Product. (Reporting by Lili Bayer)
Straits Times
11 hours ago
- Business
- Straits Times
EU Commission to propose dedicated defence and space investment in new fund
European Union High Representative for Foreign Affairs and Security Policy Kaja Kallas walks, on the day of a meeting on the latest developments in Ukraine and security in Europe, at Villa Madama in Rome, Italy, June 12, 2025. REUTERS/Guglielmo Mangiapane/File Photo EU Commission to propose dedicated defence and space investment in new fund BRUSSELS - The European Commission will propose dedicating part of a new European Competitiveness Fund to resilience, defence and space, the EU executive's leadership said on Wednesday. The Commission is expected to put forward a plan for a competitiveness fund to invest in strategic sectors and innovation as part of an upcoming proposal for the bloc's 2028-2034 budget. "The gap to fill, after years of underinvestment and under attention to defence, is large," European Commission President Ursula von der Leyen and EU foreign policy chief Kaja Kallas wrote in a letter to European leaders on Wednesday. "This is why the Commission's proposal for the next Multiannual Financial Framework will also address the need for substantial funding for defence in the years to come through a dedicated Resilience, Defence and Space window of the European Competitiveness Fund," they wrote. EU leaders are expected to discuss defence priorities during a summit in Brussels on Thursday. The discussion will take place a day after a NATO summit in The Hague, where alliance members committed to boosting defence spending to 5% of Gross Domestic Product. REUTERS Join ST's Telegram channel and get the latest breaking news delivered to you.
Yahoo
11 hours ago
- Business
- Yahoo
EU Commission to propose dedicated defence and space investment in new fund
BRUSSELS (Reuters) -The European Commission will propose dedicating part of a new European Competitiveness Fund to resilience, defence and space, the EU executive's leadership said on Wednesday. The Commission is expected to put forward a plan for a competitiveness fund to invest in strategic sectors and innovation as part of an upcoming proposal for the bloc's 2028-2034 budget. "The gap to fill, after years of underinvestment and under attention to defence, is large," European Commission President Ursula von der Leyen and EU foreign policy chief Kaja Kallas wrote in a letter to European leaders on Wednesday. "This is why the Commission's proposal for the next Multiannual Financial Framework will also address the need for substantial funding for defence in the years to come through a dedicated Resilience, Defence and Space window of the European Competitiveness Fund," they wrote. EU leaders are expected to discuss defence priorities during a summit in Brussels on Thursday. The discussion will take place a day after a NATO summit in The Hague, where alliance members committed to boosting defence spending to 5% of Gross Domestic Product.
Reuters
11 hours ago
- Business
- Reuters
EU Commission to propose dedicated defence and space investment in new fund
BRUSSELS, June 25 (Reuters) - The European Commission will propose dedicating part of a new European Competitiveness Fund to resilience, defence and space, the EU executive's leadership said on Wednesday. The Commission is expected to put forward a plan for a competitiveness fund to invest in strategic sectors and innovation as part of an upcoming proposal for the bloc's 2028-2034 budget. "The gap to fill, after years of underinvestment and under attention to defence, is large," European Commission President Ursula von der Leyen and EU foreign policy chief Kaja Kallas wrote in a letter to European leaders on Wednesday. "This is why the Commission's proposal for the next Multiannual Financial Framework will also address the need for substantial funding for defence in the years to come through a dedicated Resilience, Defence and Space window of the European Competitiveness Fund," they wrote. EU leaders are expected to discuss defence priorities during a summit in Brussels on Thursday. The discussion will take place a day after a NATO summit in The Hague, where alliance members committed to boosting defence spending to 5% of Gross Domestic Product.
