The Alliance noted that increasing and expanding the use of joint financing allows NATO members to more effectively overcome common security challenges.
NATO has increased its civilian and military budget for 2024. The civilian budget is 438.1 million euros and the military budget is 2.03 billion euros, an increase of 18.2% and 12% compared to 2023. The NATO press service reported this on Wednesday, December 13.
“At a meeting of the North Atlantic Council, Alliance members agreed on NATO’s civilian and military budgets for 2024. The civilian budget is 438.1 million euros, and the military budget is 2.03 billion euros, which is 18.2% and 12% more than in 2023, respectively,” the message said.
NATO Deputy Secretary General Mircea Geoane emphasized that the increase and expansion of NATO’s shared funding enables Alliance members to more effectively address common security challenges.
The NATO Civil Budget provides funds for personnel, operational and program costs for NATO Headquarters and its international staff. The military budget covers the operational costs of the headquarters, missions and operations of NATO’s command structure around the world.
The third major element of NATO co-financing is the NATO Security Investment Program (NSIP), which covers major civil works and investment in command and control systems. The NSIP cap for 2024 is €1.3 billion, which is 30% more than in 2023.
“Co-financed budgets strengthen NATO by providing core capabilities, promoting deterrence, defense and interoperability, and supporting consultation and decision-making at the highest levels,” the Alliance’s press service said.
They also noted that NATO is committed to providing security in an effective, transparent and financially responsible manner.
Earlier, NATO expressed hope that the Alliance would expand eastward in the coming years.
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Source: korrespondent
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.