European Investment Bank steps up multi-billion euro defence investments

BERLIN, June 24 (Reuters) – (This June 24 story has been corrected to add currency in the headline and fix the name of a strategic institute in paragraph 9)

The European Investment Bank (EIB) intends to ramp up its investments in European defence such as drones, satellites and cyber security, aiming to inject a further 6 billion euros ($6.4 billion) into the sector, its head told Reuters.

The plan underscores an increasing willingness in Europe to lend to defence companies after Russia’s invasion of Ukraine changed an entrenched view that the region was safe from attack and could rely on the United States for protection.

Source: REUTER