NATO has a critical capability gap that is hindering its ability to guarantee the security of its member states: its inability to finance defense. If nothing is done, this gap will only grow in the aftermath of the COVID-19 pandemic.
Paying for military forces and deployments has traditionally been the responsibility of individual member states, with NATO ensuring those forces are able to fight together as one. But an alliance built on collective defense must do more than just come to the defense of its members. It must also, as Article 2 of the Washington Treaty holds, “encourage economic collaboration.” As such, NATO should create its own bank.
The above excerpt was originally published in Atlantic Council. Click here to view the full article.
The positions of American Progress, and our policy experts, are independent, and the findings and conclusions presented are those of American Progress alone. A full list of supporters is available here. American Progress would like to acknowledge the many generous supporters who make our work possible.
Research and Program Associate