EDA and EIB sign cooperation agreement for investments in R&D
The European Defence Agency (EDA) and the European Investment Bank (EIB) have today signed a Memorandum of Understandung (MoU) with a view to strengthening cooperation between the two institutions.
The European Council of 19 October 2017 had encouraged the EIB to examine further steps with a view to supporting investments in defence research and development activities. As a response, the EIB recently approved the European Security Initiative - Protect, Secure, Defend, strengthening its support for RDI for dual-use technologies, cybersecurity and civilian security infrastructure. The MoU between EDA and EIB aims at supporting EU policy objectives, in particular as regards the Common Security and Defence Policy (CSDP).
As a first step, EDA and the EIB envisage cooperation in the Cooperative Financial Mechanism (CFM). The CFM is foreseen as a voluntary mechanism for EDA Member States to financially support the set up and conduct of the development of military technology, and will play an important role in the launch phase of cooperative projects. The EIB role in the CFM would focus on supporting the development of dual use technologies. Additionally, the two organisations agreed to exchange expertise, in particular with a view to identifying possible financing opportunities for defence and security-related research and technology projects in support of EDA participating Member States.
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