Breaking news

EIB Doubles Defence Financing, Expands Eligible Projects While Excluding Weapons

by THEFUTURE.TEAM

The European Investment Bank (EIB) has announced significant changes to its financing approach for defence projects, including the removal of existing limits on funding and an expanded scope of eligible projects. However, the EIB will still maintain a ban on financing weapons and ammunition.

Ahead of a key defence summit this Thursday, Nadia Calvino, EIB President, outlined plans to EU leaders in a letter, revealing that the bank’s measures are part of the European Union’s broader initiative to enhance defence financing in response to growing security concerns, particularly in light of the ongoing threat from Russia.

As part of the new strategy, the EIB plans to propose a revision to its eligibility criteria during its March Board of Directors meeting. The adjustments aim to better define excluded activities, keeping them as minimal and precise as possible. Additionally, the bank is set to revise its operational framework to establish an annual financial and capital allocation for defence, ensuring it meets the increasing demands of the EU’s security needs while maintaining the bank’s strong financial position and ability to support other strategic priorities.

The EIB’s balance sheet totals €600 billion, and previously, the bank had targeted doubling its financing for defence projects to €2 billion by 2025, with an upper limit of €8 billion by 2027. With this new policy, the EIB will be able to fund large-scale strategic defence projects that include land border protection, military mobility, infrastructure protection, de-mining, cybersecurity, drones, and other critical technologies.

The change signals a shift in the EIB’s core public policy objectives, placing defence and security on par with other priorities like cohesion and sustainability. The new approach will allow financing for projects such as barracks, radars, helicopters, military facilities, and other infrastructure with no civilian use. However, weapons and ammunition will still be off-limits for EIB funding.

The shift in policy is also seen as a signal to investors and financial institutions, emphasizing that security and defence are now considered essential public goods. This stance contrasts with the bank’s exclusion of activities like gambling, tobacco, or pornography, sending a clear message that EU governments are prioritizing investment in national and regional security.

Only 1% Of Cyprus Farms Use Precision Farming Technologies

by THEFUTURE.TEAM

Cyprus remains one of the European Union’s least digitised agricultural economies, with just 1% of farms using precision farming technologies in 2023, according to Eurostat.

The findings come as the EU continues to encourage the adoption of digital tools aimed at improving agricultural productivity, efficiency and sustainability.

Internet Access Expands, But Digital Uptake Lags

Internet access has improved across the bloc, although adoption remains uneven. Eurostat found that 43% of EU farms had internet access in 2023, with northern and central European countries leading the way.

Denmark, Germany, Slovakia, Latvia, the Czech Republic and Austria all reported internet access rates above 90%.

Greater connectivity, however, has not translated into widespread digital adoption. Farm management information systems, which help farmers manage day-to-day operations, were used by only about 11% of EU farms. France was a notable exception, with around 60% of farms using the technology.

Precision Farming Concentrated In Larger Operations

Robotics adoption also remained relatively limited, with only about 7% of EU farms using robotic technologies. Overall, around 18% of farms with utilised agricultural area employed at least one precision farming technology or practice in 2023.

These included robotics for plant protection, band spraying, variable-rate application, precision crop monitoring and soil analysis. Despite representing fewer than one in five farms, these holdings accounted for around 44% of the EU’s utilised agricultural area.

The figures suggest that precision farming remains concentrated among larger agricultural businesses, where investment in digital technologies is typically easier to support.

Cyprus Lags Behind EU Leaders

Luxembourg, Finland and Estonia recorded the highest shares of utilised agricultural area managed by farms using precision farming technologies, each exceeding 75%.

At the other end of the ranking, Cyprus recorded just 1%, while Greece and Romania reported between 10% and 15%. The results indicate that Cyprus remains at an early stage of digital adoption in agriculture, even as precision farming becomes more widespread across parts of the European Union.

Uol
eCredo
Aretilaw firm
The Future Forbes Realty Global Properties

Become a Speaker

Become a Speaker

Become a Partner

Subscribe for our weekly newsletter