The Defense Post
The EU Council has launched an initiative that will support member states in their joint defense procurement loans.
The union’s Security Action for Europe (SAFE) program will finance member states’ urgent and large-scale investments in the European defense technological and industrial base.
An estimated 150 million euros ($169 million) will be disbursed to interested member states upon request and on the basis of national plans.
SAFE aims to boost production capacity, address existing capability gaps, and ensure that defense equipment is available when needed.
Priority defense equipment to be funded by the cause includes ammunition and missiles, artillery systems, maritime surface and underwater capabilities, and drones and anti-drone systems.
SAFE is part of the European Commission’s ReArm Europe Plan/Readiness 2030, which aims to leverage more than 800 billion euros ($903 million) in defense spending.
