(MENAFN- Kuwait News Agency (KUNA)) BRUSSELS, May 27 (KUNA) -- The European Commission has welcomed the EU Council's approval of the Security Action for Europe (SAFE) instrument, a central component of the ReArm Europe - Readiness 2030 plan.
The initiative is aimed at strengthening the EU's defense capabilities in response to growing security threats.
SAFE will allow the Commission to raise up to EUR 150 billion from capital markets to help member states invest in key defense areas such as air and missile defense systems, drones, and other critical technologies.
European Commission President Ursula von der Leyen called the approval a "decisive step forward," stating, "Exceptional times require exceptional measures. The time has come for Europe to take greater responsibility for its own security and defense."
She added that SAFE will not only enhance capabilities within the EU but also benefit Ukraine and reinforce Europe's defense industrial base, adding, "this is about readiness, resilience, and building a true European defense market."
Commissioner for Defense and Space Andrius Kubilius also hailed the agreement, saying it sends a strong message of Europe's commitment to security and industrial resilience.
He highlighted that the new mechanism allows for defense procurement "with Ukraine, for Ukraine, and in Ukraine."
EU member states will have six months from the regulation's start date to submit national investment plans, which will be reviewed by the Commission.
SAFE is part of the broader Readiness 2030 strategy, which seeks to mobilize up to EUR 800 billion in defense investments by combining EU funds, national spending, and private sector contributions to strengthen the continent's collective security and reduce reliance on external partners. (end)
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