EIB Slashes Approval Time for Defense Projects
The European Investment Bank (EIB) is taking big steps to speed up its support for defense and security in Europe. The bank, which is owned by European Union governments, has cut the time it takes to approve defense projects to just six months. According to its president, Nadia Calvino, this faster process is meant to ensure that urgent projects can move forward without long delays. Europe has been under increasing pressure to strengthen its own security, especially with threats from Russia and demands from the United States that the EU carry more of the burden. The European Union has set…