Finland joins development of new defence financing model

Finland, the UK, the Netherlands, and Poland have launched a joint initiative to create a new defence financing mechanism aimed at streamlining joint procurement and ensuring cost-effective purchases, according to a joint statement reported by Finnish news agency STT.

The new model seeks to boost defence investments and promote collaborative acquisitions.

Leena Mörttinen, a senior official at Finland’s Ministry of Finance, told STT that the mechanism will help countries conduct joint procurement more efficiently and at lower cost.