EU Launches Loan Plan to Reinforce Defense Sector
(MENAFN) European Union nations have collectively agreed to introduce a substantial EURO150 billion (USD170 billion) loan initiative titled the Defense Industrial Readiness Loan Instrument (SAFE), aimed at enhancing the bloc's defense infrastructure.
Ukrainian Premier Denys Shmyhal announced that Ukraine has been formally acknowledged as a partner in this effort.
Shmyhal shared the news on Wednesday via a post on X, emphasizing that the move would support Ukraine’s integration into the EU's joint defense acquisition strategies.
He also highlighted that this development could unlock new avenues for Ukrainian businesses to participate in the broader European defense supply network.
Calling the initiative both “important and urgent,” Shmyhal stressed its relevance in reinforcing the security of EU countries alongside Ukraine.
He expressed gratitude to European Commission President Ursula von der Leyen, Poland, and other European allies for their steadfast backing, adding, “We are stronger together.”
The SAFE instrument is designed to inject substantial financial resources into increasing the EU’s industrial defense capacity, particularly in light of mounting geopolitical instability and heightened security requirements across Europe.
So far, the European Commission has not released any details regarding when the SAFE program will be officially launched.
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