EC President praises Romania, Estonia, Latvia, and Lithuania for their commitment to boosting defense spending

At the high-level event on Thursday for the launch of the EastInvest Facility, European Commission President Ursula von der Leyen praised Romania, Estonia, Latvia and Lithuania for their strong commitment to increasing defense investments and military mobility, noting that enhanced security also boosts regional competitiveness. She emphasized that the illegal Russian invasion of Ukraine transformed Europe overnight and that eastern border communities - who help keep Europe safe - deserve major support.Von der Leyen highlighted the heavy impact of the war on border regions: divided communities, damaged economies, disrupted transport and tourism, and daily exposure to hybrid threats, migration weaponization and drone incursions. She outlined three priorities: strengthening security and defense, unlocking major investments for economic growth, and leveraging the potential of border regions.The European Commission's President recalled Europe's defense roadmap and the plan to mobilize up to 800 billion euros by 2030, noting that nearly two-thirds of the 150 billion euros under the SAFE mechanism will go to the eight border countries present at the event. She also mentioned initiatives such as Eastern Flank Watch and anti-drone defense, as well as major investments in military mobility.On economic development, Von der Leyen stressed that safer conditions could attract investors to the regions on the EU's eastern border."We all know from our own experience that these regions have a resilient population and a skilled workforce, so in the context of the ongoing war waged by Russia, it means that investors and potential investors need reassurance. Romania, for example, will produce essential medicines at the research center in Iasi, and this high-tech factory will make advanced vaccines and antibiotics," Ursula von der Leyen underscored in her speech.EastInvest, central to the EU's new strategy for regions bordering Russia, Belarus and Ukraine, will bring together major European financial institutions to facilitate access to loans and advisory support. The mechanism is expected to generate at least 28 billion euros in public and private investment, improve coordination among investors and address the specific development needs of eastern border regions.Also present at the event hosted by the European Commission are, among others, the President of the European Investment Bank (EIB) Nadia Calvino; prime ministers Ilie Bolojan (Romania), Kristen Michal (Estonia), Inga Ruginiene (Lithuania), and Evika Silina (Latvia); as well as representatives from Bulgaria, Finland, Poland, Slovakia, and Hungary. (Photo:https://gov.ro/)