Brussels: Parliament has called for improved financing options to bolster Europe's defence readiness, as outlined in a new report from the Committee on Security and Defence. The report, titled 'European Defence Readiness 2030: Assessment of Needs', explores Europe's defence requirements up to 2030, focusing on strengthening financing tools and mobilizing private investment to support the EU's defence capabilities. According to Cyprus News Agency, the European Parliament has stressed the urgency for increased investment in defence readiness due to the deteriorating security environment and the EU's exposure to hybrid and conventional threats. The Parliament has shown support for the European Commission's 'ReArm Europe' plan and the Defence Readiness Roadmap 2030, which propose greater budgetary flexibility for EU countries and encourage enhanced spending to solidify the European Defence Technological and Industrial Base (EDTIB). However, the report highlights challenges faced by the defence industry, particul arly in accessing debt and capital financing. The report underscores the need for improved support for start-ups and SMEs within the EDTIB, especially regarding access to credit, private debt, and equity financing. SMEs encounter significant barriers, such as irregular public procurement, payment delays, and limited exit opportunities on European capital markets. The Parliament also emphasizes the importance of joint procurement of defence equipment among EU countries to prevent market fragmentation. It recommends aligning the EU's Readiness 2030 roadmap with targets from the European Defence Industrial Strategy (EDIS), including achieving 40% joint procurement and 35% intra-EU defence trade by 2030. Furthermore, the report calls for enhanced European supply chains and suggests that the European Investment Bank adapt its mandate to better support the defence industry. Ahead of the upcoming EU long-term budget negotiations, MEPs advocate for a comprehensive security approach backed by coordinated investment. Following the report's approval, Christophe Gomart, the rapporteur, highlighted the necessity of mobilizing private investment alongside public funding to achieve credible defence readiness by 2030. The report was approved by 425 votes in favour, 120 against, with 96 abstentions.