European Commission supported creation EU defense fund

Open source
The European Commission supported proposal to establish European Defense Fund. This was stated by the European Commission rep, Margaritis Schinas, Ukrinform reports.
“The EU institutions have reached a partial political agreement on the European Defence Fund, subject to formal approval by the European Parliament and Council, which will foster an innovative and competitive defence industrial base and contribute to the EU’s strategic autonomy,” the report says.
Founding for defense fund was proposed in June 2018, as part of initiatives aimed at improving the security for EU citizens. This opens the way for EU defense financing in the budget until 2020. For the first time in European history, the defense-oriented budget package will totals EUR 590 million.
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