The EIB has set a new annual spending ceiling of €100 billion, tripling funding for the EU defense industry.

At the EIB Board meeting, an annual spending ceiling of €100 billion was approved, exceeding the €10 billion previously borrowed. The decision, which will be formalized by EU finance ministers, allows for a tripling of financing for the defence industry, although the EIB cannot invest directly in arms. The increased lending capacity will also support other areas such as technological innovation and renewable energy, amid external pressures on defense spending.