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  • Palantir will locate its European headquarters in London under the deal. 
  • The country’s defence procurement marketplaces could soon include interceptor drones and drone warheads.  
  • The funds will be channelled into five different regions across the UK.
  • Selected companies will access funding, facilities, and support. 
  • The 27-member bloc’s defence spending is predicted to hit EUR381 billion in 2025. 
  • The EU wants to help build a UAS that supports a range of capabilities, including EW.
  • Much of the investment will go towards bolstering its air defence and ammunition.  
  • Countries in the EU have expressed clear interest in taking advantage of the funding instrument.    
  • New legislation will create a central procurement agency and allow for advance payments to smaller firms, among other things.
  • The country will spend the money on fighter jets, missile defence systems, and drones, among other things.
  • The taskforce will help regulate how EU member states are using the defence fund.
  • The move is part of the president’s efforts to rebuild the military and champion European defence.
  • Legislative changes must be made to release subsidies and encourage investment, the government said.
  • This agreement will also tighten collaboration between the EU’s key defence bodies.  
  • It comes amid a flurry of initiatives designed to invigorate France’s defence industrial base.
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