THE CAPITAL RE-ARMAMENT: Banking, Public Finance and Private Credit for Defence Industrial Readiness
17 pages · PDF · 12 December 2025 · Licensed single-user copy, watermarked to the buyer
€299 excl. VAT — EU VAT calculated at checkout (VAT ID accepted for reverse charge); invoice issued after payment
One click to Stripe — guest checkout, no account. Your download appears on the confirmation page and arrives by e-mail right after payment (link valid 72 hours, up to 5 downloads).
About this report
In the decade preceding 2022, Europe’s defence financing was characterised by restraint, institutional fragmentation and a deliberate separation between supranational financial instruments and the military-industrial sphere. The European Union’s self-conception as a peace project translated into restrictive financial norms that kept defence largely outside common funding frameworks.
The European Investment Bank, in particular, excluded defence and armaments from its lending mandate, while EU-level instruments such as the European Defence Fund were limited to modest, forward-looking R&D grants rather than industrial scale-up.
Key questions this report answers
- How did institutional fragmentation and restrictive norms keep European defence outside common funding before 2022?
- How did the EIB's exclusion of defence and the EDF's R&D-only grants shape financing?
- What roles do banking, public finance and private credit now play in defence-industrial readiness?
- How is the capital re-armament reshaping supranational financial instruments for defence?
Who it's for
Strategy, corporate-development and investment teams that need an ecosystem-level view — budgets, industrial capacity and technology landscapes — before committing capital or capacity.
Related reports
Methodology, format & delivery
DFM reports are built from primary and official sources — TED procurement notices, CORDIS and the EU Funding & Tenders Portal, EIB operations, the NATO Innovation Fund portfolio, SIPRI data, official budget documents and company disclosures — read together with the underlying legal texts. Sources are cited in the document; it reflects them as of its publication date (12 December 2025). You receive a 17-page PDF, watermarked to you on every page, delivered on the confirmation page and by e-mail immediately after checkout (personal link valid 72 hours, up to 5 downloads). Guest checkout, single-user licence — Terms of Sale.
Related on DFM
More Strategic reports · All reports
Prefer unlimited access?
Prefer unlimited access? Every report like this is included in the DFM Analysis subscription. See plans →