The Netherlands, the United Kingdom, and Finland are establishing a mechanism for joint defense procurement

The Netherlands, the United Kingdom, and Finland have initiated the creation of a financial mechanism for joint procurement of defense products, which they plan to launch by 2027.

This was reported by NOS.

In a statement, the initiating countries noted that, given the deteriorating global security situation, new approaches to defense financing are necessary.

This involves a multilateral mechanism that will allow states to pool resources for the procurement of military equipment and ammunition, as well as provide loans for defense needs.

The initiators plan to involve other countries with high credit ratings. The search for partners is currently underway, particularly among NATO allies.

The new mechanism is intended to complement existing EU initiatives in the field of defense procurement. The participation of the United Kingdom, which is not a member of the European Union, extends the scope of cooperation beyond the EU.

The Dutch Ministry of Finance noted that a number of countries have already expressed interest in joining the initiative.

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