NATO Common Funding - Yesterday, Today and Tomorrow

The NATO common funding has already been used to finance common needs of the Alliance for 65 years and has contributed substantially to its readiness, cohesion and solidarity. A number of reform measures have been approved, and in most cases already implemented, over the period of last several years with the aim of more effective, economical, efficient a transparent use of NATO common funds and the introduction of modern financial management practices. NATO common funding is therefore a live and well-functioning system. Nevertheless, there is still a room for further improvements. The aim of this article is to describe the role of NATO common funding, its basic parameters and tools, its development in the past, and current and future challenges.