ASD welcomes EU defence ministers’ joint statement on access to finance for the European defence industry

The joint statement comes amid Russia’s invasion of Ukraine which has dramatically changed the security environment in Europe and underscored the essential role of credibly equipped armed forces in safeguarding security, freedom and democracy. Despite these circumstances, many financial actors have remained reluctant to invest in or provide financial services to European defence companies.

“We welcome the joint statement of EU defence ministers as a strong political signal. Difficulties to access finance is a major hurdle for European defence industry to meet European armed forces’ needs in the new security environment. These difficulties must be overcome to ensure the ability of EU Member States to protect their citizens and help the Union’s to become a more credible security provider. We therefore hope that policy makers in the EU, in particular finance ministers, as well as financial market operators will hear the signal from defence ministers and act accordingly,” commented Jan Pie, Secretary General of the Aerospace, Security and Defence Industries Association of Europe (ASD).

Read more: Why Europe needs its defence industry.