Finland, the United Kingdom, the Netherlands and Poland on Monday issued a joint statement on developing the New Multilateral Defence Mechanism (MDM), said the Ministry of Defence and Ministry of Finance in a joint press release.
The four countries ahead of the Ankara NATO Summit reiterated their shared commitment to strengthen defence financing and improve the cost-efficiency of defence spending to transform collective defence capabilities, said the statement.
“In light of the rapidly evolving international security environment and the consequences of Russia’s aggression against Ukraine, we shall act together to be prepared to address future threats. We remain committed to supporting Ukraine in defending its sovereignty and resisting Russian aggression,” it said.
The countries are making significant progress to develop the new Multilateral Defence Mechanism together with partners. The mechanism is an innovative new financing model intended to accelerate defence investment, stimulate joint procurement, and aggregate demand in critical defence capabilities, with the ultimate objective of meeting the military needs of like-minded allies.
“We aim to move quickly to formal Treaty negotiations, respecting individual members’ ratification processes, while maintaining the shared ambition of setting up the MDM by 2027. We have benefitted from the support of a wider group of allies in developing the technical details of the model,” the statement added.
To further progress the MDM, the cou7ntries will therefore work with core partners to expand the MDM into a broader coalition of participants, build on technical development and move to the next phase of mechanism design and development with subscribed partners during the Autumn and ensure that emerging approaches to international defence financing are aligned and complementary, including by working with other NATO allies on aligning the efforts for increased capability and interoperability.
- Finland
- 3 countries
- Defence mechanism
Source: www.dailyfinland.fi
