March 4. 2024. 4:57

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UK announces new security fund


Nearly £1 billion will be allocated to the UK Integrated Security Fund, a new security fund that will go towards domestic security and address global sources of volatility, Prime Minister Rishi Sunak announced on Monday.

The fund, also dubbed UKISF, is meant to “help keep the UK safe” and address global sources of “volatility and insecurity.” It will replace the existing Conflict, Stability and Security Fund (CSSF) and will fund projects at home and overseas to tackle some of the most complex national security challenges facing the UK and its partners.

“The new Integrated Security Fund will allow the UK to deliver on the core priorities of the Integrated Review, from fostering security in fragile states to deterring cyber threats and holding human rights abusers to account,” said Foreign Secretary James Cleverly.

The unveiling of the updated Integrated Review has been choreographed to coincide with Sunak’s visit to San Diego to agree on the next steps in a landmark defence agreement, AUKUS, with the US and Australia.

UKISF will also support the work of the new Economic Deterrence Initiative (EDI), which tackles sanction evasions across the UK’s trade, transport and financial sanctions.

About £50 million will be provided to improve enforcement of the UK’s sanctions regime and prepare the government to respond to potential hostile acts.

(Sofia Stuart Leeson | EURACTIV.com)