EU Members Weigh Inviting UK, Canada to Join €150 Billion Defense Fund

A majority of European Union member governments are in favor of inviting the United Kingdom and Canada to participate in the EU’s proposed €150 billion ($165 billion) defense spending fund, Bloomberg reports.

More than half of the EU’s member states support extending the invitation, while approximately half a dozen, primarily in eastern European and Baltic nations, are also pushing for the inclusion of the United States, said the sources, who requested anonymity due to the private nature of the discussions among EU envoys.

The European Commission has initially indicated its preference for including only a limited number of non-EU countries, such as Ukraine, in the fund. Currently, third countries can collaborate with EU members on joint projects if they have an established security and defense partnership with the EU.

Canadian Foreign Minister Melanie Joly has already expressed Canada’s interest in joining the EU loan fund during a Bloomberg Television interview. The UK is also seeking to finalize a preliminary security agreement at a planned summit in London in May, aimed at resetting relations with the EU and potentially granting access to the defense fund.

However, concerns exist in the UK that certain EU countries, led by France, may attempt to leverage the UK’s participation in the fund to gain ground on contentious post-Brexit issues such as fishing and energy. British officials are advocating for a separate negotiation of the security deal to avoid potential delays related to disagreements over issues like fishing rights.