The EU Council's Financial Counsellors Working Party is scheduled to meet on 17 July 2026 at 10:00 in the Justus Lipsius Building in Brussels to examine the European Investment Bank's defence and security activities and to receive Commission information on UK participation in the Union for the Security of Life (USL). The meeting, announced in a notice of meeting dated 14 July 2026, will be held in format 1+2, with the Presidency attending in 2+2 format.
The first agenda item features a presentation by the EIB on its Defence Equity Facility, followed by an exchange of views. Delegates from the Working Party on Defence Industry are invited to join the Financial Counsellors for this discussion, signalling cross-working party coordination on defence financing. The Defence Equity Facility, launched by the EIB in 2024, aims to support European defence and security companies by providing equity investments, and this session likely reviews its progress and impact.
Under any other business, the Commission will provide information on UK participation in the USL, a framework for security of life initiatives. The UK's involvement in the USL has been a topic of ongoing technical discussions following the post-Brexit relationship adjustments, and this update may clarify the scope and conditions of UK engagement.
The meeting is procedural in nature, with no legislative decisions expected. Delegations are required to register their presence via the Delegates Portal, and Council documents are available online. The discussion on the EIB's defence role reflects broader EU efforts to bolster defence investment, while the UK-USL item continues technical cooperation with a non-EU member. No immediate follow-up actions or further meetings have been announced.