Intense interest in EU's new defense fund SAFE: 18 countries have applied

The European Commission (EC) has announced that 18 member states have applied for the Security Action for Europe (SAFE), a new financial instrument established to strengthen the Union's defense, which provides 150 billion euros in funding.

In the statement made by the EU Commission, it was reported that the following 18 member states have applied to the new financing instrument, SAFE:

Belgium

Bulgaria

Czechia

Estonia

Greece

Spain

France

Croatia

Italy

Republic of Cyprus

Latvia

Lithuania

Hungary

Poland

Portugal

Romania

Slovakia

Finland

It was stated that these 18 member states have requested a total of 127 billion euros in funding. The deadline for applications to SAFE was announced as November 30.

ASSESSMENT FROM THE EU COMMISSION

Andrius Kubilius, the EU Commissioner for Defense and Space, stated that the “intense interest” in SAFE demonstrates the Union's determination in the fields of security and defense.

Emphasizing that EU countries are determined to support efforts to increase Europe's security, Kubilius said, “SAFE is a symbol of our shared commitment to strengthening our defense readiness for a safer and more united future.”

DEFENSE PROGRAMS

SAFE includes 150 billion euros in funding to strengthen EU defense. This is part of the “ReARM Europe” program announced by the Commission in March.

Aiming to rearm the region by increasing defense spending to 800 billion euros, ReARM Europe provides for flexibility in fiscal rules and the provision of funds to member states for their defense expenditures.

News Source: 12punto