SAFE Initiative: EU Countries Receive Loans as Ukraine Joins Defense Cooperation Efforts
Loans under the SAFE (Security Assistance for Europe) program will go directly to EU countries, and Ukraine, allowed to participate in defense production projects, must establish cooperation with European manufacturers, The Gaze reports, citing Ukrinform.
It is worth recalling that the SAFE mechanism is a European Union initiative or program aimed at supporting security and defense cooperation in Europe. This financial instrument was approved by consensus at the Council of the European Union on May 27 and provides for up to €150 billion to be invested in the defense industry.
While Ukraine cannot directly receive loans under this program, its full association with SAFE allows it to join projects as an industrial partner and collaborate with EU countries on joint defense production initiatives.
“Who is eligible to borrow under our SAFE instrument? It is EU member states, although, of course, Ukraine is fully associated with the SAFE program,” said European Commission spokesman Thomas Rennie.
He stated that 18 member states seeking SAFE loans are currently drafting plans for projects and partnerships, potentially involving Ukraine, covering at least €127 billion, which will then be reviewed by the European Commission.
“Now is indeed an opportune moment for Ukraine, as it is an important part of our SAFE tool, to reach out to industry representatives across Europe, to member states, to become part of these plans,” the spokesman stressed.
Read more on The Gaze: What Specific Military Assistance Does Ukraine Need From Partners?