00:00This will help member states to pool demand and to buy together, and of course with this equipment, member states
00:10can massively step up their support to Ukraine, so immediate military equipment for Ukraine.
00:19This approach of joint procurement will also reduce costs, it will reduce fragmentation, but it will increase interoperability and, of
00:29course, strengthen our defense industrial base, and it can be to the benefit of Ukraine, as I've just described.
00:37It will provide 150 billion euros of loans to member states for defense investment.
00:46This is about basically spending better and spending together, and we're talking about pan-European capability domains like, for example,
00:56air and missile defense, the artillery systems, missiles and ammunition, drones and anti-drone systems,
01:05but also to address other needs from cyber to military mobility, for example.
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