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NATO commits to multi-billion dollar defense contracts
The NATO Secretary General, Jens Stoltenberg, confirmed that the member states will announce during their summit in Ankara defense contracts worth billions of dollars, aimed at enhancing the alliance's defensive capabilities. This is part of their efforts to meet the commitment to increase defense spending to 5% of GDP by 2035, with clear plans outlined to achieve this goal. New contracts worth tens of billions of dollars will be announced through a defense industry forum to strengthen deterrence and defense capabilities. Additionally, the European allies and Canada increased their defense expenditure by 20% in 2025 compared to the previous year. Stoltenberg also emphasized that European countries and Canada will boost their military investments by $258 billion during 2025 and 2026, focusing on supporting Ukraine and ensuring the flow of military aid to Ukraine worth no less than 70 billion euros annually in 2026 and 2027. The alliance is seeking to strengthen military power and continue supporting Ukraine amid current challenges.
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