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France launches a 450M euro defense fund to boost military spending amid security concerns.
France plans to launch a 450 million euro defense fund managed by Bpifrance, the country's public investment bank, to boost military spending amid concerns over Russian threats and uncertainty about US protection.
Finance Minister Eric Lombard announced the fund, which aims to raise over 5 billion euros for French defense companies over the next few years.
French citizens can invest in the fund in 500 euro increments.
The move comes as France seeks to increase defense spending to between 3% and 3.5% of its economic output, up from the current 2%.
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Francia lanza un fondo de defensa de 450 millones de euros para impulsar el gasto militar en medio de las preocupaciones de seguridad.