The European Commission has endorsed national defence investment plans from eight EU Member States worth a combined total of €38 billion, and asked the Council to approve financial assistance for them under the bloc’s SAFE loans scheme.
Belgium, Bulgaria, Denmark, Spain, Croatia, Cyprus, Portugal and Romania are included in the first group of plans backed by the Commission, the EU executive said in a statement on Thursday.
SAFE — short for Security Action for Europe — is an EU initiative designed to provide low-cost, long-term loans that countries can use for joint procurement of defence equipment.
European Commission President Ursula von der Leyen said the Commission had approved an initial batch of SAFE plans for the eight countries and that others would follow “shortly after”.
Provisional country funding amounts were set in September, including €1.18 billion earmarked for Cyprus and €16.68 billion tentatively allocated for Romania.
Together, the eight countries are entitled to around €38 billion once loan agreements are signed.
Council decision due within four weeks
The Council has four weeks to adopt implementing decisions now that the Commission’s assessment is complete, it said.
Once approved, the Commission will finalise loan agreements, with the first payments expected in March 2026.
The SAFE Regulation was adopted on 27 May 2025 as part of the EU’s “Readiness 2030” defence package.
