Germany has rejected the proposal to create an international bank to lend to facilitate the rearmament of EU and NATO member states, reported Reuters, citing the German Finance Ministry.
According to a statement from the German Finance Ministry, the government rejects the creation of additional financing instruments in the field of weapons. Neither the concept of a global bank for defense, security and resilience, nor the proposal to create a European Rearmament Bank are being discussed within the community or the alliance. There are also no discussions about the possible participation of countries in such financial institutions.
„Strengthening defense capabilities is a new priority for the German government. "However, the German government is focused on the rapid implementation of projects using existing instruments in line with the resource needs of the member states," said a spokesman for the German Finance Ministry.
Military funding is to be secured through the recently developed EU SAFE armaments programme (formerly ReArm EU). It provides member states with loans of up to EUR 150 billion for joint arms purchases.