Growing Calls For The European Investment Bank To Invest In The Defense Industry

Bloomberg: Dutch Call on EIB and Pension Funds to Invest in Defense Sector 

(Bloomberg) -- The Netherlands’s defense minister, Kajsa Ollongren, called on the European Investment Bank to invest in the defense industry and said the Dutch government is already putting pressure on pension funds to fund the sector as the European Union struggles to supply Ukraine with sufficient artillery munitions. 

“We need to have a highly capable defense industry in the European Union and the Netherlands and for that you have to invest, you have to innovate and you need funding,” she said in an interview from her office in The Hague. “If it’s not coming from big pension funds or banks then there is a real issue.” 

EU member states are trying to reach an agreement over joint procurement of artillery ammunition to support Ukraine. Ukraine has said it will need 1 million rounds of ammunition this year, and Estonia has estimated that would cost around €4 billion ($4.3 billion).  

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WNU Editor: The European Investment Bank (EIB) is the European Union's development bank and is owned by the EU Member States. It is also one of the largest supranational lenders in the world with about $250 billion in assets.