Meanwhile, Lithuania plans to allocate 5.25 percent of its GDP to defense next year.

On Thurday, French President Emmanuel Macron said that Paris will host a summit of the “coalition of the willing” supporting Ukraine on March 27 to discuss further military aid for Kyiv.

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Speaking to reporters following a European Union (EU) summit in Brussels, Macron said the meeting will focus on short-term military support for Ukrainian forces and explore how European countries can provide long-term security guarantees to help Ukraine sustain its defense. “The entire process will be finalized in the next few days,” he said.

Ukrainian President Volodymyr Zelensky and leaders from multiple European countries are expected to attend the Paris summit. The EU summit, originally scheduled for two days, was cut short and concluded Thursday after just one day at the bloc’s headquarters in Brussels.

Leaders discussed key issues including European competitiveness, the situation in Ukraine, defense cooperation and developments in the Middle East.

On Thursday, Zelensky addressed European leaders via video, urging them to promptly approve a package of at least 5 billion euros for artillery shells and continued pressure on Russia.

Meanwhile, the Lithuanian Prime Minister Gintautas Paluckas announced that his country plans to allocate 5.25 percent of its gross domestic product (GDP) to defense next year.

The State Defense Council decided in mid-January that the country should spend between 5 and 6 percent of its GDP on defense over the next five years.

Some of the funds are expected to be sourced from economic growth, borrowing, and tax adjustments. The largest share of the defense funding is planned to come from borrowed funds, in cooperation with businesses, Paluckas said.

teleSUR/ JF

Souce: Xinhua

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