The European Commission proposed on Tuesday new joint EU borrowing of 150 billion euros ($157.76 billion) to lend to EU governments for defence as part of an overall 800 billion total financing effort to boost Europe's defence capabilities.

Ursula von der Leyen on Tuesday presented a five-part plan to strengthen Europe's defense industry and provide 'immediate' military support to Ukraine.

The European Union, EU has announced a plan to 'Rearm Europe', which will mobilize up to $840 billion (€800 billion) in defense investment across the

European Commission President Ursula von der Leyen has laid out a European rearmament plan ahead of a March 6 summit on defense and Ukraine.

Europe urgently needs to rearm and member states must be given the fiscal space to carry out a surge in defence spending, European Commission President Ursula von der Leyen said on Sunday after a meeting about support for Ukraine.

European Commission President Ursula von der Leyen has said that Europe urgently needs to rearm, stressing that member states must be given the fiscal

European Commission President Ursula von der Leyen has laid out a European rearmament plan ahead of a March 6 summit on defense and Ukraine.

The chief of the European Union’s executive proposes an 800 billion euro ($841 billion) plan to beef up EU defenses to lessen the impact of potential U.S. disengagement and provide Ukraine with military muscle to negotiate with Russia following the freeze of U.

New EU plans to strengthen Europe's defence industry and increase military capabilities could mobilize close to 800 billion euros ($841.4 billion), EU Commission President Ursula von der Leyen said on Tuesday.

"Europe is ready to massively boost its defence spending," European Commission President Ursula von der Leyen said Tuesday.

European Commission President Ursula von der Leyen proposed on Tuesday a new fund that could mobilize close to €800 billion ($841.5 billion) for defence investments in the European Union, including for military aid for Ukraine.