The European Union’s 150 billion euros in cheap loans for defense projects have been fully taken up by a total of 19 EU countries, including Greece and Cyprus, with Poland securing the biggest portion of the loans, the European Commission said on Tuesday.
The scheme, called Security Action For Europe (SAFE), is a joint borrowing scheme, backed by the EU budget to boost the EU’s defense capabilities, address critical gaps, and buy defense products to prepare for the threat of military aggression from Russia or Belarus. Also participating in the loans are Bulgaria, Croatia, Cyprus, the Czech Republic, Denmark, Estonia, Finland, Greece, Slovakia and Spain.
[Reuters]