EU Unveils Major Defense Loan Plan, Ukraine Onboard
(MENAFN) European Union nations have reached a consensus to create a €150 billion (approximately $170 billion) Defense Industrial Readiness Loan Instrument (SAFE) aimed at enhancing the bloc’s defense capabilities, with Ukraine officially designated as a partner country, according to Ukrainian Prime Minister Denys Shmyhal.
In a Wednesday post on X, Shmyhal highlighted that the move would facilitate Ukraine’s integration into the EU’s collective defense procurement efforts and provide new avenues for Ukrainian companies within European supply chains.
He called the initiative “important and urgent” for enhancing the security of both EU nations and Ukraine.
“We are stronger together,” Shmyhal remarked, expressing gratitude to European Commission President Ursula von der Leyen, Poland, and other EU members for their ongoing support.
SAFE is set to direct substantial loans to enhance industrial capacity across the EU, responding to escalating geopolitical tensions and increasing security demands. The European Commission has yet to release a timeline for when the initiative will be implemented.
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