Traffic jam:   1

Jacob Sullivan says NATO summit to discuss increased funding for the alliance

28 June 2022
1 min.
Jacob Sullivan says NATO summit to discuss increased funding for the alliance

Funding the alliance

Participants at the North Atlantic Treaty Organisation summit will agree on concrete plans to increase funding for the alliance's overall budgets. US Assistant to the President for National Security Jacob Jeremiah Sullivan said in a briefing to journalists on Tuesday.

"The alliance will also agree specific targets for increases in overall funding for NATO, for its various budgets, to ensure that all strategic lines of effort reflected in this new strategic concept for the alliance, which will be endorsed at the summit, are fully resourced," Jacob Sullivan said. The briefing was held aboard the plane of US President Joe Biden, who was on his way from Germany to the Spanish capital to attend the aforementioned meeting of NATO leaders.

As Jacob Jeremiah Sullivan recalled, NATO leaders decided back in 2014 at the Wales summit to increase their national defence spending to at least 2% of GDP. According to the US aide, the US expects the upcoming summit to demonstrate that "the vast majority of NATO countries have either met" this target or "are on track to meet it by 2024".

It is worth noting that the NATO heads-of-state meeting is taking place in Madrid on 28-30 June.

Persons2 and Companies1 in the news

National Security Advisor to the Vice President of the United States
1 place
46th President of the United States
2 place
Source foto:


Rating companies
39 Mention
Dow Jones
35 Mention
23 Mention
Bloomberg L.P.
21 Mention
19 Mention
JP Morgan Chase
18 Mention
18 Mention
15 Mention


News from GlobalNY.biz is the freshest and most relevant information about high-profile events in the region. The task of the resource's news feed is to convey to readers with maximum accuracy and objectivity information about important events in business, politics, economy, healthcare, culture and other spheres of life in New York.
GlobalNY.biz news is a coverage of economic processes taking place in New York, the latest news of public life, incidents and an overview of political events. New York news is information about the activities of small and medium-sized businesses, the work of housing and communal services and utilities, the implementation of significant projects.
The site's journalists describe not only the life of the region, but also talk about the current state of the US economy. Everything you need to know about innovations in the field of industry and agriculture, economy and power is collected in the "News" section at GlobalNY.biz.
New York news quickly informs the reader, shows the real picture and opens up hot topics. Communication with government structures and business enables us to provide our readers with reliable, information-rich material. The main page of the portal contains the key news of New York!
Alena Potapova

Development Director
Died this year
Born this year