During a press conference in Brussels, Polish Foreign Minister Radosław Sikorski proposed the establishment of a rearmament bank as a potential solution for funding collaborative defense projects within the European Union. He noted that this idea is certainly “worth considering.”
Sikorski pointed out that while the EU currently has the European Bank for Reconstruction and Development to assist in peacetime efforts, it lacks a dedicated defense component in its objectives.
In light of the heightened threat posed by Russia, he emphasized the necessity for the EU to develop a similar institution, specifically designed to address contemporary security challenges and support the revitalization of Europe’s defense industry. This proposed bank would function similarly to the European Investment Bank, focusing on defense-related investments.
Speaking to reporters in Brussels on Thursday, Sikorski underscored the importance of bolstering the EU’s defense capabilities, describing it as an essential “insurance card.” However, he cautioned that as a former Defense Minister, he recognizes the significant costs associated with defense initiatives and the need for substantial financial resources.
The financing for such initiatives could originate from various avenues, including increased contributions from EU member states, reallocating existing funds—such as those from cohesion policy—toward defense enhancement, tapping into unspent resources from the post-COVID-19 recovery fund, or through joint debt issued by the EU. The proposed rearmament bank would represent an additional funding avenue.
“I support this proposal,” Sikorski remarked, adding that the EU must activate at least one of these funding sources to avoid facing challenging circumstances in the future.
He also highlighted that discussions around common defense have been ongoing since the 1990s when the EU struggled to respond effectively to the conflicts in the Balkans, requiring assistance from the United States. “At that time, we had to rely on help from the U.S.,” Sikorski stated. (02/06/2025)
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