BRUSSELS, Feb. 28 (Xinhua) -- The European Defense Agency (EDA) on Wednesday signed an agreement with the European Investment Bank (EIB) to strengthen cooperation in area of defense.
According to the EDA's statement, the two institutions will team up to support the EU policy objectives, in particular as regards the common security and defense policy.
The EIB will further finance projects promoted by the member states in defense research and development activities.
"In line with our mission, we look forward to supporting in particular investment projects that target dual-use technologies, which can be commercialized also in civilian applications," said EIB Vice-President Alexander Stubb.
"Today's cooperation agreement is welcome news for Europe's security as it will help the EDA and the EIB better contribute to EU policy goals," Stubb added.
"The agency will support the EIB in the identification and assessment of projects as well as by putting its defense expertise at the service of the bank," said Jorge Domecq, chief executive of the EDA.
EDA is an EU agency based in Brussels. Its primary mission is to support the member states and the Council of the EU in their effort to improve European defense capabilities.
