EU to Commit €3 Billion in 2026 to Help Secure Raw Materials

The European Union plans to commit at least €3 billion ($3.5 billion) over the next year to help sever its dependence on China’s raw materials, which are critical to much modern technology and military equipment.

The funding would come from a variety of sources, according to a draft proposal seen by Bloomberg. One EU program, for instance, is expected to contribute €2 billion between 2026 and 2027 for raw materials-related investments. Another EU fund would provide €700 million next year to develop raw material supply chains and support climate-friendly technologies.