Mick Wallace: Calls for EIB to cease financing defence projects
Mick Wallace criticised the European Investment Bank's Strategic European Security Initiative and warned against EIB financing of dual‑use and defence projects. He argued the EIB should not finance arms or anything that can double up as weapons.
EIB Strategic European Security Initiative
Wallace said the initiative commits financing of up to €6 billion to dual‑use projects seeking to develop security and defence systems in Europe.
2019 agreement with the European Defence Agency
He referenced a 2019 programme agreement in which the EIB established a cooperative financial mechanism with the European Defence Agency.
Commission concerns in 2022 roadmap
Wallace cited the Commission's 2022 roadmap on critical technologies for security and defence, noting that on page 7 the Commission laments that the EIB's lending policy still has restrictions that prevent it from lending to the defence sector.
Call for the EIB to avoid arms and defence ties
He maintained that the EIB should have nothing to do with the arms industry and should not finance anything that can double up as weapons, arms or military software or hardware. He also stated the EIB should have nothing to do with the government and the European Parliament and should have nothing to do with the president of the ISEAN movement.
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The report is silent on the European Investment Bank's Strategic European Security Initiative and on the relentless attempts by the Council, the Commission, the European Defence Agency as well as the arms industry to undermine the restrictions that prevent the EIB from investing in arms and core defence projects. The EIB's Strategic European Security Initiative commits financing of up to €6 billion to dual-use projects seeking to develop security and defence systems in Europe. The EIB also signed a programme agreement establishing a cooperative financial mechanism with the European Defence Agency in 2019. In its 2022 roadmap on critical technologies for security and defence, on page 7, the Commission laments the fact that the EIB's lending policy still has restrictions that prevent it from lending to the defence sector. How bad? The EIB should have nothing to do with the arms industry, nor should it finance anything that can double up as weapons, arms or military software or hardware. The EIB should have nothing to do with regard. The EIB should have nothing to do with the government and the European Parliament. The EIB should have nothing to do with the president of the ISEAN movement.
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