“The European Commission has preliminarily approved the applications of the first group of EU countries to receive funds under the multibillion-dollar SAFE program for rearmament.โ, โ write: www.pravda.com.ua
Ursula von der Leyen. photo by Getty Images Source: “European Truth” with reference to the relevant EC statement
Details: The European Commission submitted to the Council of the EU a proposal for the approval of financial assistance for Belgium, Bulgaria, Denmark, Spain, Croatia, Cyprus, Portugal and Romania.
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“Last year, the EU made more progress in the field of defense than in previous decades. The White Paper and the Readiness Roadmap 2030 allowed member states to mobilize up to 800 billion euros for defense,” said European Commission President Ursula von der Leyen.
According to her, other plans will be approved soon.
“Now the Council needs to urgently approve these plans to ensure the quick allocation of funds,” she stressed.
As noted, this decision was made after a thorough evaluation of the “National Defense Investment Plans” of the countries within the framework of the SAFE initiative.
The approval paves the way for the first wave of low-cost, long-term loans that will allow these countries to urgently increase their military readiness and acquire the necessary modern defense equipment.
The funding level for each country was pre-set in September based on the principles of solidarity and transparency.
For example, 1.18 billion euros have been allocated for Cyprus, and 16.68 billion euros have been pre-allocated for Romania.
This group of eight EU member states is entitled to about 38 billion euros after signing loan agreements.
Once the European Commission’s assessment is complete, the EU Council has four weeks to make implementation decisions. Once approved, the European Commission will finalize the loan agreements and the first disbursements are expected to begin in March 2026.
Prehistory:
- Recently, it was reported that Poland’s negotiations with the European Commission regarding Poland’s plan to use almost 44 billion euros under the SAFE loan program are coming to an end.
- Polish Prime Minister Donald Tusk said that the SAFE initiative is crucial for Poland’s military security and will also give a powerful boost to the country’s economy.
- He said the 43.7 billion euros will help finance the purchase of drones and the country’s planned Eastern Shield defense project along the border with Belarus and Russia.