“The European Commission approved the first batch of SAFE plans for Belgium, Bulgaria, Denmark, Spain, Croatia, Cyprus, Portugal and Romania”, — write: www.radiosvoboda.org
“Last year, the EU made more progress in the field of defense than in previous decades. The White Paper and the Readiness Roadmap to 2030 enabled member states to mobilize up to €800 billion for defence. This amount includes €150 billion for joint procurement – SAFE. So far we have approved the first batch of SAFE plans for Belgium, Bulgaria, Denmark, Spain, Croatia, Cyprus, Portugal and Romania. The Council now needs to urgently approve these plans to ensure the quick release of funds,” said European Commission President Ursula von der Leyen.
Funding levels for each country were pre-set in September based on the principles of solidarity and transparency. For example, €1.18 billion has been allocated to Cyprus, while €16.68 billion has been pre-allocated to Romania. This group of 8 member states is entitled to around 38 billion euros after signing loan agreements.
It is noted that the EU Council has four weeks to approve implementing decisions. The first payments are expected in March 2026.
The SAFE (Security Actions for Europe) program offers a preferential 10-year repayment period and low interest rates and allows contracts with partners outside the EU (Norway, Great Britain, Turkey, etc.). This joint borrowing mechanism, supported by the EU budget, was created to accelerate the development of defense capabilities of European countries in response to increased threats from Russia.