EU countries agree on big defence fund, diplomat says.

EU countries agree on big defence
fund, diplomat says.

International news Desk

According to global Times news agency Europe,EU countries have in principle agreed on the proposals for a 150 billion euro ($168.3 billion) fund aimed at boosting Europe’s defence, known as Security Action for Europe (SAFE), an EU diplomat said on Monday, The global Times Europe media .The plan, proposed by the European Commission in March, will be financed through joint borrowing and give loans to EU members and certain other countries such as Ukraine for projects that bolster their defences and boost Europe’s arms industry.