EU ministers approve creation of 150-bln-euro arms fund

Xinhua
27 May 2025, 19:45 GMT+10

EU ministers on Tuesday approved an arms fund of 150 billion euros, marking the bloc's first large-scale defense investment program at EU level.

BRUSSELS, May 27 (Xinhua) -- Ministers from the European Union (EU) countries on Tuesday approved the creation of a 150-billion-euro (about 170.22 billion U.S. dollars) arms fund, the bloc's first large-scale defence investment program at EU level, the Council of the EU said in a press release.

The fund will be channelled through the new Security Action for Europe instrument, which offers competitively priced, long-maturity loans to member states that choose to invest in defence industrial production via joint procurement of priority capabilities, the Council said.

The European Commission, the EU's executive arm, proposed the fund in March as an essential part of its ReArm Europe Plan/Readiness 2030 package, which aims to leverage over 800 billion euros in defence spending to bolster European security and defence cooperation. (1 euro = 1.13 U.S. dollar)

Watch latest videos

News RELEASES

Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Kenya Star.

More Information

null in null

Africa

Section

From Head's counter-attack to Jamieson's pace masterclass, top moments in World Test Championship finals history

New Delhi [India], May 27 (ANI): The ICC World Test Championship final clash between Australia, the defending champions and South Africa...

Namibia to face against South Africa for first time, historic clash will mark opening of new Windhoek stadium

Windhoek [Namibia], May 27 (ANI): Namibia will play against South Africa for the first time in the T20I format, which will mark the...

African state suspends defense ties with Germany

Uganda has accused Berlins envoy of engaging in subversive activities in the country Uganda has suspended defense cooperation with...

Moscow calls for greater African media presence

The Foreign Ministrys Tatyana Dovgalenko has emphasized that the media plays a key role in supporting the momentum in Russia-Africa...

Feature: Chinese hybrid rice boosts food security in Madagascar

Chinese hybrid rice growing has helped to improve Madagascar's food security, with locally adapted hybrid varieties now covering 90,000...

South African president says Trump agreed to U.S. attending G20 Summit

South African President Cyril Ramaphosa announced Monday that President Donald Trump had agreed that the United States should participate...

World

Section

Focused, motivated and ready, Lallianzuala Chhangte eyes Asian qualification

Kolkata (West Bengal)[India], May 27 (ANI): The AFC Asian Cup is the pinnacle of football in the world's biggest continent. As Asia's...

"Country not under political leadership, it's under army leadership": Former Culture Secretary questions Pakistan PM's call for talks

New Delhi [India], May 27 (ANI): Former Culture Secretary Raghvendra Singh on Tuesday dismissed Pakistan Prime Minister Shehbaz Sharif's...