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EU member states have not fulfilled their promise to deliver one million artillery shells to Ukraine by March (Photo: Nikolaj Nielsen)

Call to change EIB defence spending rules hits scepticism

Fourteen EU member states penned a letter on Sunday (17 March) urging the European Investment Bank (EIB) to boost its defence expenditure, as the bloc is scrambling to deliver the promised one million artillery shells to Ukraine.

The deadline for this delivery lapsed this month.

The letter argues that a revised EIB policy could create a "signalling effect," increasing the acceptability for pension funds and banks to invest in security and defence.

Most pension funds and b...

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Author Bio

Wester is a journalist from the Netherlands with a focus on the green economy. He joined EUobserver in September 2021. Previously he was editor-in-chief of Vice, Motherboard, a science-based website, and climate economy journalist for The Correspondent.

EU member states have not fulfilled their promise to deliver one million artillery shells to Ukraine by March (Photo: Nikolaj Nielsen)

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Author Bio

Wester is a journalist from the Netherlands with a focus on the green economy. He joined EUobserver in September 2021. Previously he was editor-in-chief of Vice, Motherboard, a science-based website, and climate economy journalist for The Correspondent.

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