The European Commission has approved funding for five cross-border projects to support more coordinated and efficient defence procurement among EU Member States. Implemented under the European Defence Industry Reinforcement through Common Procurement instrument (EDIRPA), each of the 5 selected projects will receive €60 million, representing a total amount of €300 million funding.
Bringing greater value for money through economies of scale, the common procurement will make critical defence capabilities more affordable for Member States’ armed forces. With products procured in common, Member States’ armed forces will have improved interoperability. The clearer perspectives and greater predictability, which come with larger contracts, will strengthen the European industry, and allow it to adapt its production capacity to Europe’s defence needs. All in all, the common procurement will reinforce defence readiness in the EU Member States. Continue reading “EU boosts defence readiness with first ever financial support for common defence public procurement”