Brussels – Slovenian Finance Minister Klemen Boštjančič has suggested that a portion of the cohesion funds could be redirected towards enhancing security measures. Speaking in Brussels during a gathering of EU finance ministers focused on defense and security financing, he emphasized that these funds could support not only infrastructure projects but also initiatives for dual-use applications.
“It is imperative that we bolster our security capabilities. I intentionally refer to security capacities instead of solely defense capacities,” he stated. He clarified that enhancing security can involve projects designed for both civilian and military purposes, rather than just military equipment. This encompasses areas such as cyber and information security, as well as critical infrastructure improvements.
“We are discussing expenditures aimed at boosting security capabilities, and we believe a portion of the cohesion funds can be allocated for these efforts. Ultimately, funds earmarked for infrastructure projects under cohesion initiatives could be utilized for these purposes,” he added.
The European Commission’s recent proposal, unveiled last week, also contemplates the reallocation of some cohesion funds to strengthen European security and defense. This plan could potentially unlock an additional 800 billion euros in investments for this sector.
Moreover, it suggests a four-year suspension of certain European budgetary regulations and the creation of a new financial mechanism that would provide member states with up to 150 billion euros in loans for defense-related investments. (March 11)
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