The Permanent Structured Cooperation, or PESCO, is among the most ambitious EU defence initiatives. Launched in December 2017, it aims to increase defence cooperation among the participating EU Member States to a new level.
Indra consolidates and strengthens its position as one of the largest European defence companies after the European Commission selected the 19 R&D projects in which Indra is participating.
The Commission proposes to commit €500 M of EU budget from 2022 to 2024. The instrument will incentivise Member States, in a spirit of solidarity, to commonly procure and will facilitate access for all Member States to defence products being urgently needed.
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