In an interview with APE, vice-captain (I) Demosthenes Grigoriadis, Chief of the Hellenic Air Force General Staff (A/HAFGS), spoke, among…
The European Investment Bank (EIB) announced backing for the development and launch of two Earth observation satellites that will provide high-resolution imagery for civilian and defence applications in Poland.
The EIB is lending €300 million to Bank Gospodarstwa Krajowego (BGK) for the project to support the European space industry with the latest technology in Low Earth Orbit (LEO) satellites. This comes after the EIB’s Board of Directors approved the EIB Group’s new Security and Defence Industry Action Plan which is intended to step up investments in the sector.
As announced, the project involves the design, assembly, testing and launch of a pair of satellites capable of capturing high-resolution images. It also includes two ground stations for controlling the satellites and downloading images, which will be used by the Polish Ministry of Defence, Ministry of Interior and governmental bodies such as the Polish Space Agency.
The plan is for the two satellites to become operational by 2028.
Also read: Poland | Procures IBCS Battle Command System from the US
Boosting EIB Group support to safeguard Europe’s peace and security is one of the top 8 strategic priorities, outlined by President Calviño as part of the Group’s Strategic Roadmap welcomed by EU Finance Ministers.
Following intensive consultations with the Bank’s shareholders, financial markets and key stakeholders, and the European Council’s mandate to further improve access to finance for European security and defence firms, last week the EIB Group’s Security and Defence Industry Action Plan was formally approved by the EIB’s Board of Directors.
As part of the Action Plan, the EIB Group has created a dedicated Security and Defence Office, providing a one-stop shop for security and defence investment, which offers streamlined financial support and expert assistance aimed at strengthening Europe’s security and defence capabilities.
The changes are expected to speed up investment and improve access to EIB Group financing for the European security and defence sector, deploying €6 billion in funding available under the Strategic European Security Initiative (SESI) and the European Investment Fund’s (EIF) Defence Equity Facility.
Also read: European Investment Bank | Support for the security and defence industry
READ MORE
Defense Note 2024 | The Netherlands’ plan to reinforce its defence
The Netherlands has decided to invest capital regarding its contribution to the NATO alliance. According to the Defense Note 2024…
jHub Drone Academy | British Army’s training solution for FPV use
Admittedly, First Person View (FPV) Uncrewed Aircraft Systems (UAS) provide the Ukrainian Armed Forces with an essential precision strike…
Turkey | Norway lifts arms restrictions
Five years after imposing restrictions on arms exports to Turkey, Norway has decided to accept Ankara’s arms applications.
THEON INTERNATIONAL | Signing of long-term commercial agreement with EXOSENS – Acquisition of Harder Digital
THEON INTERNATIONAL PLC, a company that designs and manufactures innovative night vision, thermal imaging, and electro-optical systems for…
Chief/HAFGS | Update on the armament programs of the Hellenic Air Force
In an interview with APE, vice-captain (I) Demosthenes Grigoriadis, Chief of the Hellenic Air Force General Staff (A/HAFGS), spoke, among…
Sweden | $440 million in aid to Ukraine
Sweden will send its 17th aid package to Ukraine with further military support worth $443 million, Defence Minister Pal Jonsson announced…
USA – Republic of Cyprus | Joint statement on the signing of a Road Map with defense cooperation for the period 2024 – 2029 – Photos
The Minister of Defence of the Republic of Cyprus, Vasilis Palmas, and the Assistant Secretary of Defence of the United States of America…
HCDI | 1st Innovation Action
As part of its launch, the Hellenic Center for Defence Innovation (HCDI S.A.) announced its first Innovation Action.