Article 14 — Fund Accelerating Defence Supply Chains Transformation (FAST)

1. In order to leverage, de-risk and accelerate investments needed to increase the defence manufacturing capacities of SMEs and small mid-caps complying with criteria equivalent to those set out in Article 9(1) and, where relevant, Article 9(3) and (4), a blending operation offering debt support, equity support or both may be established, entitled Fund Accelerating Defence Supply Chains Transformation (FAST). It shall be implemented in accordance with Title X of the Financial Regulation and with Regulation (EU) 2021/523. 2. The specific objectives pursued by FAST shall be the following: (a) to achieve a satisfactory multiplier effect that is in line with the debt and equity mix and which contributes to attracting both public and private-sector financing; (b) to provide support to SMEs including start-ups and scale-ups and small midcaps across the Union, which are facing difficulties in accessing finance and which are: (i) industrialising or manufacturing defence products or have imminent plans to do so; or (ii) part of the Union’s defence supply chain or have imminent plans to become part of it; (c) to accelerate investment in the fields of manufacturing defence products and developing defence technologies, and therefore strengthen the security of supply of the Union’s defence industry value chains.