EU allocates 1 billion euros to boost collaborative European defence research, development

BRUSSELS, Dec. 17 (Xinhua) -- The European Commission announced on Wednesday that it will invest 1 billion euros (1.17 billion U.S. dollars) in joint defence research and development under the 2026 European Defence Fund Work Program, to reinforce Europe's collective approach to defence innovation and capability building. (1 euro = 1.17 U.S. dollars) ■