9/25, 4:48 PM (Source: TeleTrader)
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US, Poland sign $2 billion defense loan

The United States and Poland signed a direct loan agreement worth $2 billion under the Foreign Military Financing (FMF) program, according to a statement released by the US State Department on Monday. The deal aims to offer assistance for Poland's endeavors in modernizing its defense capabilities.

The document emphasizes Poland's status as a US ally, its vital role in NATO's Eastern Flank defense, and its support for Ukraine. It also commends the country's intentions to augment its Armed Forces, dispose of Russian military equipment, finalize an Enhanced Defense Cooperation Agreement, and act as a host for Allied and US forces.

"The US government is providing up to $60 million in FMF for the cost of this loan, which will help accelerate Poland's defense modernization by supporting urgent procurements of defense articles and services from the United States," the statement said.

Baha Breaking News (BBN) / RR