EU Urges States to Tap 21.3B Euro Defense Fund
The European Commission has urged member states to apply for loans from the 21.3 billion euro SAFE defense fund. Countries are encouraged to prioritize joint procurement and urgent military needs for Ukraine.
The European Commission urged member states on Thursday afternoon to tap €21.3 billion in loans from the SAFE defence funding programme to reinforce armed forces and supply Ukraine. The joint borrowing initiative aims to accelerate military readiness and help capitals meet heightened NATO spending requirements. The capital injection comes as European nations race to scale up domestic defense manufacturing and secure critical military stockpiles.
