Poland has received €6.6 billion in its first payment under the EU’s Security Action for Europe (SAFE) defence financing instrument.
The payment represents 15% of Poland’s total allocation of €43.7 billion under SAFE, with Poland the largest recipient and the first member state to receive money through the programme, the European Commission announced on Friday.
It described the €6.6 billion as “pre-financing” and said further payments would follow as Poland’s SAFE plan is implemented.
Henna Virkkunen, the Commission Executive Vice-President for Technological Sovereignty, Security and Democracy, said: “Europe must be prepared for any scenario and ready to act under any circumstances.”
The SAFE loan programme was “an essential tool” for addressing “urgent military capabilities”, she added.
Andrius Kubilius, the EU Commissioner for Defence and Space, said the payment would help deliver investments faster and strengthen Europe’s readiness “through greater co-operation and joint capabilities”.
How SAFE is funded
SAFE is financed through EU borrowing on financial markets, enabling loans to member states, the Commission said.
The loans are supported by the EU’s credit rating and must be repaid by the beneficiary countries.
