19 EU States Commit to €150 Billion in SAFE Defense Initiative

EU member states have submitted applications for SAFE loans for defense production totaling €150 billion, which is the entire amount provided for by the program.

The Gaze reports on it, referring to a post by Ursula von der Leyen on the social media platform X.

"19 member states, including Latvia, have applied for support through our SAFE Defence instrument. I am pleased to announce that we have reached the full subscription amount for SAFE," said European Commission President Ursula von der Leyen during a joint press conference in Riga with Latvian Prime Minister Evika Selina.

Von der Leyen informed that the amount in question is €150 billion.

“This is a European success,” emphasized the head of the European Commission.

It is important to note that Security Action for Europe (SAFE) is an EU initiative aimed at enhancing Europe's defense capabilities and closing critical gaps in security preparedness. The program encourages joint procurement of military equipment and supports the production of defense products on the continent. 

Under SAFE projects, orders involving EU countries can receive favorable credit terms. Although loans under this program will go directly to EU member states, Ukraine can also participate in defense production projects.

As The Gaze wrote earlier, Ukraine has presented a series of high-level defense industry projects under the SAFE initiative, including the production of drones, ammunition, and missile systems. First Deputy Minister of Defense Serhii Boyev emphasized Ukraine's readiness to integrate its defense industry into the European security system and conclude long-term contracts until 2030.