France, German and Austria have agreed to open a military exchange for veterans in Austria, as well as France and Germany.
The German news outlet Welt am Sonntag reports that a deal was signed in the town of Hüsseldorf on Wednesday that will see military veterans who have served in both the U.S. and Germany receive $200 to $300 monthly payments from the French bank, Eurobank.
That’s equivalent to about $1,000 to $1.50 per month for a total of about $10,000, according to the German paper.
The agreement is a first for the region.
France has so far only been willing to offer a small number of military veterans a monthly stipend, as the country has been hit by the eurozone crisis and has been struggling to cope with its own financial woes.
In January, the French government announced it was going to allow military veterans to exchange euros for U.K. pounds, and the move was applauded by many in France, which has seen a spike in the number of applications for military benefits since the U-K.