Brussels, July 30 (AP) Eighteen European Union nations have applied for funding from a newly established defence fund to bolster Europe's security capabilities. According to the bloc's executive branch, Poland is requesting more than a third of this funding.
The Security Action for Europe (SAFE) fund, a 150-billion-euro (USD 173 billion) initiative, offers affordable loans to EU member countries, Ukraine, and external partners with EU security agreements, such as Britain. This fund is intended to support the joint acquisition of military equipment.
The initiative was introduced following signals from the Trump administration that Europe may no longer be a top security priority for the US. Fund allocations will focus on key military assets, including air and missile defence systems, artillery, ammunition, drones, and 'strategic enablers' such as air-to-air refuelling capability.
The European Commission has confirmed that applications have been received from countries including Belgium, Bulgaria, Croatia, Cyprus, Czechia, Estonia, Finland, France, Greece, Hungary, Italy, Latvia, Lithuania, Poland, Portugal, Romania, Slovakia, and Spain. Collectively, these nations have requested a total of at least 127 billion euros (USD 147 billion).
Polish Defence Minister Wladyslaw Kosiniak-Kamysz noted on Tuesday that Poland plans to finance defence projects worth approximately 45 billion euros (USD 52 billion). The final allocation will depend on the European Commission's decision-making process.
The initiative encourages participating countries to primarily procure military equipment from European suppliers, with potential EU assistance to lower costs and expedite procurement. Earlier this month, 15 EU countries took advantage of a 'national escape clause,' allowing increased defence spending without breaching the bloc's debt regulations.
European allies are increasingly concerned that President Vladimir Putin might target an EU nation if Russia emerges victorious in its conflict with Ukraine. The SAFE fund, combined with budgetary flexibility, aims to ready Europe for self-defence by the decade's end, although EU leaders acknowledge the ambitious nature of this goal.
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