Brussels: European Commission President Ursula von der Leyen unveiled on Tuesday its "Re-Arm Europe" plan, which will enable the mobilization of nearly 800 billion euros "for a secure and resilient Europe" and provide "immediate" military assistance to Ukraine.
According to Kuwait News Agency, Von der Leyen announced in a press conference that the "Re-Arm Europe" plan will allow the European Union to raise nearly 800 billion euros, including 150 billion euros in the form of loans provided to member states for defense investments.
The Commission President explained that the loans will enhance member states' capabilities in comprehensive areas such as air and missile defense, artillery systems, missiles and ammunition, drones, and anti-drone systems, as well as addressing other needs such as cybersecurity and military mobility.
She added that the plan will allow member states to significantly increase their support for Ukraine, including providing "immediate" military assistance to Ukraine.
She also proposed suspending strict budgetary rules to allow member states to increase national defense spending.
Von der Leyen said she wrote a letter to European leaders today ahead of the exceptional European Council summit on Thursday to present the "Re-Arm Europe" plan.
She emphasized that Europe's security is genuinely threatened and that Europe must take more responsibility for its own security.
She noted that she received a "clear and firm" response in her meetings with European leaders, saying: "We are in an era of rearmament. Moreover, Europe is ready to significantly increase its defense spending. This is in response to the urgent need to act and support Ukraine, but also to address the long-term need to take more responsibility for our own European security." The announcement of the new plan comes as part of the European Union's continued efforts to support Ukraine in its war against Russia, especially after former U.S. President Donald Trump announced a freeze on military aid to Ukraine.