(Reuters) – The European Commission and the European Investment Fund (EIF) announced on Friday the launch of a new 175 million euro fund to support innovation in defense and security.
The Defense Equity Facility is expected to generate a total investment of around €500 million by attracting investment from private equity and venture capital funds.
Through this fund, the European Union seeks to play a greater role in defense policy and stimulate commercial activity in this sector, considered decisive in the face of threats to European security and the various armed conflicts raging in the close neighborhood of Europe.
The fund will focus on technologies with civil and military applications over the next four years, the Commission said.
(Written by Tassilo Hummel and Andrew Gray; French version Gaëlle Sheehan, edited by Tangi Salaün)
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