US to provide $2bn loan to Poland for defense modernization
The Biden Administration will provide a $2 billion loan to Poland to support its ongoing defense modernization, the US State Department announced on Monday.
"Today, the United States is proud to announce the signing of a milestone $2 billion Foreign Military Financing (FMF) direct loan agreement to support Poland’s defense modernization," the State Department said in a press release.
It added that, "the loan proceeds will further advance Poland’s military modernization effort across a wide range of capabilities, substantially contributing to strengthening the defense and deterrence of NATO’s Eastern Flank."
The US is providing up to $60mn in FMF to cover the cost of the loan to accelerate Poland’s urgent military procurements of defense articles and services from the US, the release said.
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