US, Poland Sign $2 Bln Defense Loan Agreement

0 389

The United States has signed a $2 billion direct loan agreement to support Poland’s defense modernization program, the State Department said.

Report says the foreign military financing deal advances the two countries’ defense cooperation as Poland seeks to boost its armed forces following Russia’s invasion of Ukraine.

“In addition to its central support role in facilitating international assistance to neighboring Ukraine, Poland has demonstrated its ironclad commitment to strengthening regional security through its robust investments in defense spending,” the State Department said.

Meanwhile, Poland is a top US ally and has topped NATO’s┬áspending chart┬áthis year. The military alliance has forecast Poland pouring 3.9% of gross domestic product into military goals, almost twice NATO’s current 2% target.

The US will provide $60 million for the cost of the $2 billion loan, which will be used to help pay for Poland’s defense modernization program with weapons purchases from the US, the State Department said.

 

 

REUTERS/Christopher Ojilere

Leave a Reply

Your email address will not be published. Required fields are marked *