Members of NATO have agreed to boost defense spending to five percent of gross domestic product(GDP) by 2035.

The leaders of the NATO member nations made the pledge Wednesday in a joint statement adopted after NATO’s annual summit in The Hague, Netherlands.

To meet U.S. President Donald Trump’s demand of five percent, the NATO allies committed to investing at least three-point-five percent of GDP on core defense requirements such as weapons and troops, and an additional one-point-five percent on related spending such as infrastructure and cyber defense.

The agreement means the allies’ spending target more than doubled from the current two percent agreed at a summit in 2014. 

NATO members also agreed to a 2029 budget review to track their collective progress against spending commitments.

Trump hailed the agreement as a “monumental win” for his country, taking credit for what he called a fantastic outcome that no one thought possible.