MEPs Approve EU Defence Capability Pilot Budget, but Long-Term Funding Uncertain

Members of the European Parliament (MEPs) on 3 July voted 478 to 179 in favour of an EU draft regulation to set aside EUR500 million (USD582 million) in funding for the European Defence Industrial Development Programme (EDIDP), the so-called capability window of the EU’s wider European Defence Fund. Starting in 2019, the EDIDP’s two-year pilot...

Members of the European Parliament (MEPs) on 3 July voted 478 to 179 in favour of an EU draft regulation to set aside EUR500 million (USD582 million) in funding for the European Defence Industrial Development Programme (EDIDP), the so-called capability window of the EU’s wider European Defence Fund.

Starting in 2019, the EDIDP’s two-year pilot phase will provide co-financing with national governments 20% of the cost of defence capability projects by consortia with at least three public or private companies established in at least three different EU member states.

Projects dedicated to small and mid-cap companies will be eligible for a higher co-financing rate, as well as projects launched within the European Union’s Permanent Structured Cooperation (PESCO) for defence.

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Source: www.janes.com