![]() ![]() Our updated defense plans will place more forces at higher levels of readiness, and that will deter aggression and allow us to respond more quickly to any challenge to our collective security.Īnd as we update our defense plans, we're also continuing to move forward to adapt NATO nuclear deterrence to our shifting threat environment. Now all of this work is part of the fundamental shift in collective defense and deterrence that NATO's leaders agreed on at the Madrid Summit last year. Our new pledge will also help us to strengthen our defense industrial bases and to standardize critical munitions and improve NATO interoperability. As I've said before, two percent is a floor and not a ceiling, and we need this increased investment to ensure our credible collective defense and to continue to modernize the alliance's capabilities. It will affirm our shared commitment to spend at least two percent of national GDP on defense, with the aim of spending more than two percent to meet the alliance's defense needs. And let me urge all of our allies to support the immediate accession of Sweden, another proud democracy and highly-capable defense partner.Īlso in Vilnius, our leaders will agree on an updated defense investment pledge. Now, I'm proud that Finland will participate in this year's summit for the first time as a NATO ally. In Vilnius, NATO will have the opportunity to expand its practical, nonlethal support for Ukraine's current fight, and that will also be a chance to lay the foundations for modernizing and reforming Ukraine's defense institutions and making the transition to NATO-standard equipment. As I've noted, they'll be meeting in challenging times, and a summit will be an important opportunity to discuss how NATO will continue to meet this moment. In just a few weeks, our leaders will gather for NATO's Vilnius Summit. Now, let me turn to some of our important business at this NATO ministerial. President Biden has repeatedly said we will stand with Ukraine for the long haul. The United States is proud to join some-50 nations of goodwill around the world in providing Ukraine with vital training and security assistance, and we must be patient as the Ukrainians wage this important campaign. Ukraine's brave defenders have now started the next phase in their fight to liberate their country's sovereign territory from Russian occupation. Putin's invasion has caused the worst crisis in European security since the end of World War II.īut the people of Ukraine continue to inspire the world with their resilience and their courage. For nearly 16 months, Russia has been waging a cruel and reckless war of choice against its peaceful and democratic neighbor. ![]() So let me start with just a few words about recent developments in Ukraine. His leadership has helped NATO navigate turbulent times with unity and resolve. I'd like to thank the secretary-general for gathering us here today. AUSTIN III: All right, good afternoon, everyone. Outside of the office, Fred spends most of his time with his wife and three pre-teen children traveling, snow skiing, swimming, diving, and biking.SECRETARY OF DEFENSE LLOYD J. Fred currently serves on the Board of Advisors for the University of Kansas School of Business. in Business Administration from the University of Kansas. At Morgan Stanley, he helped technology-driven companies access the public equity and high yield markets and later advised large corporates in the firm’s mergers & acquisitions department.įred began his career in asset management with Citibank Asset Management in London. Prior to TH Lee Putnam, Fred was an investment banker with Morgan Stanley in its New York headquarters. Fred is also the Founder and Chairman of Spring Venture Group, a +1,000 person digital insurance platform in the senior healthcare market.īefore founding both Five Elms and Spring in 2006, Fred was a senior investment professional with TH Lee Putnam Ventures, a $1.1 billion private equity firm focused on software-enabled businesses. Fred is the Founder and Managing Partner of Five Elms. ![]()
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