The programme Security Action for Europe (SAFE) is designed to support defence investments of European Union member states through long-term loans provided by the European Commission. The instrument provides up to €150 billion financed by EU borrowing on capital markets.
The funds are intended primarily for joint procurement of weapons, ammunition and other military capabilities by member states. The programme requires at least two partners to participate in a joint procurement project. SAFE also allows participation by Ukraine as well as countries of the European Economic Area and EFTA.
Nineteen EU member states have expressed interest in taking part in the instrument. The Council of the European Union has approved financing for the first group of 16 countries after assessing their national defence investment plans. Following this decision, the European Commission is signing loan agreements with participating states. The next stage of the programme involves the disbursement of pre-financing for approved defence projects.
