The heads of defence departments of NATO member states have signed an agreement to create the first common fund. The first common fund will be of one billion euros
The money will be used for the development of military and dual-purpose technologies, reads the statement of the bloc. TASS reports about it in a statement of the bloc.
“The first common fund will be made available to NATO to help maintain its technological edge with a one billion euro investment in dual-use technologies with security and defence applications”, – the statement reads.
The pooled fund should, as conceived by defence ministers, “facilitate closer and more trusted cooperation with private companies developing cutting-edge technologies”.
NATO is already creating the DIANA transatlantic Defence Innovation Acceleration System. The new fund should complement it. Think tanks are to be deployed across Europe and the US. They will seek out and support civilian developments that can then be applied to the military sphere. The Alliance hopes to have them operational by June 2022, when a major summit is planned in Madrid.