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EU Approves New Defense Funding for Eight Member States
(MENAFN) The European Commission on Monday approved a second round of national defense plans under the Security Action for Europe (SAFE) initiative, clearing the way for financial support to Estonia, Greece, Italy, Latvia, Lithuania, Poland, Slovakia, and Finland.
After reviewing the countries’ defense investment proposals, the Commission said the new round of low-interest, long-term loans will allow these nations to quickly enhance military readiness and acquire modern defense equipment.
“The Commission submitted a proposal to the Council to approve financial assistance for Estonia, Greece, Italy, Latvia, Lithuania, Poland, Slovakia and Finland,” the statement said.
The funding, initially set at roughly €74 billion ($87 billion) when first announced in September, is aimed at strengthening strategic defense capabilities and supporting Ukraine’s integration into the EU’s security framework.
The EU Council now has four weeks to adopt the required implementing decisions. Once approved, the Commission will finalize the loan agreements, with the first disbursements expected in March 2026. Evaluations of defense plans from other member states are still ongoing.
The SAFE initiative, introduced on May 27, 2025, as part of the EU’s Readiness 2030 defense package, allows member states to scale up defense investments through joint procurement from the European defense industry, improving interoperability, predictability, and cost efficiency. Ukraine, EFTA/EEA countries, and potential EU candidate states are also eligible to participate in procurement and industrial agreements.
After reviewing the countries’ defense investment proposals, the Commission said the new round of low-interest, long-term loans will allow these nations to quickly enhance military readiness and acquire modern defense equipment.
“The Commission submitted a proposal to the Council to approve financial assistance for Estonia, Greece, Italy, Latvia, Lithuania, Poland, Slovakia and Finland,” the statement said.
The funding, initially set at roughly €74 billion ($87 billion) when first announced in September, is aimed at strengthening strategic defense capabilities and supporting Ukraine’s integration into the EU’s security framework.
The EU Council now has four weeks to adopt the required implementing decisions. Once approved, the Commission will finalize the loan agreements, with the first disbursements expected in March 2026. Evaluations of defense plans from other member states are still ongoing.
The SAFE initiative, introduced on May 27, 2025, as part of the EU’s Readiness 2030 defense package, allows member states to scale up defense investments through joint procurement from the European defense industry, improving interoperability, predictability, and cost efficiency. Ukraine, EFTA/EEA countries, and potential EU candidate states are also eligible to participate in procurement and industrial agreements.
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