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EU Approves €150 Billion SAFE Fund to Strengthen European Defense and Security
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![Photo of Dariia Mykhailenko]( "Photo of Dariia Mykhailenko")
EU member states have officially approved the launch of the Strategic Technologies for Europe Platform (SAFE), a new instrument allowing the bloc to raise up to €150 billion (approximately $170 billion) for defense industrial investment.
The decision was announced by the Polish Presidency of the EU Council on May 21.
“Agreement on SAFE. The more we invest in equipping our armies, the better we will deter those who wish us harm,” the statement read.
European Council President António Costa welcomed the move as “an important step toward a stronger Europe.”
“It delivers on the commitments made by EU leaders in March, helping member states invest jointly in European defense and strengthening our shared security,” he added.
Funds will be raised on financial markets and made available to EU countries based on national investment plans. The objective is to accelerate defense production and strengthen the long-term resilience of Europe’s defense industrial base.
Specifically, the funding will allow countries to invest in a wide range of defense capabilities, including ammunition and missile production, artillery systems, air and missile defense, personal gear and small arms manufacturing, tactical drones and counter-drone technologies, electronic warfare, naval surface and underwater assets, cybersecurity, protection of critical infrastructure, and enhanced military mobility.
Earlier, the European Union is set to end Ukraine’s temporary trade liberalization regime.
The move signals the conclusion of a mechanism introduced in response to Russia’s full-scale invasion, which granted Ukrainian exports duty-free access to EU markets.
-21d0b63c17f6020e4df75f6c6f9a2f4f.jpg "Photo of Ivan Khomenko")
