The European Commission has joined growing calls for the European Investment Bank (EIB) to scrap its restriction against funding defence projects in a push to bolster the fight against the Russian invasion of Ukraine.
The EIB, which has extended €1.7 billion in financing for Ukraine repair and reconstruction projects in the past two years, currently can only finance defense projects if they are "dual-use" and most of the revenue is expected to come from civilian uses. Financing of a project to manufacture ammunition, for example, is prohibited.
