4 NATO countries propose new defense funding model for Ukraine
NATO headquarters (Photo: Getty Images)
Ahead of the NATO summit in Ankara, Ukraine's partners have presented a new mechanism for defense spending. It will help in providing military support, states the Finnish Ministry of Defense.
4 countries created the MDM to help Ukraine
On July 6, the UK, the Netherlands, Finland, and Poland published a joint statement on the development of a new defense financing mechanism.
The countries established the Multilateral Defense Mechanism (MDM).
What is the purpose of this mechanism?
The MDM will become a tool for:
- Increasing defense investments,
- Facilitating joint procurement,
- Increasing demand for critical defense capabilities.
The goal is to launch this financing mechanism by 2027, when NATO countries will ratify the agreement.
"We have benefitted from the support of a wider group of allies in developing the technical details of the model. Build on technical development and move to the next phase of mechanism design and development with subscribed partners during the Autumn," the statement says.
They emphasized that they are creating the mechanism because of the war Russia started against Ukraine, and to counter future threats.
"We remain committed to supporting Ukraine in defending its sovereignty and resisting Russian aggression," the MDM initiators stated.
NATO Summit in Türkiye
The NATO summit in Türkiye will take place on July 7 and 8.
US President Donald Trump plans a meeting with Ukrainian President Volodymyr Zelenskyy on July 8 during the NATO summit in Ankara. This was confirmed by White House spokesperson Anna Kelly in a conversation with journalists.
Russia may launch a massive strike on Ukrainian territory before the NATO summit in Ankara. According to Zelenskyy, this is consistent with the Kremlin's treacherous tactics.
NATO countries have not yet agreed on a joint statement for the upcoming summit in Ankara. The reason is disagreements over the timing of military aid to Ukraine and the financing of fuel pipelines in Eastern Europe.
