The European Commission has approved Italy's updated plan worth over 8 billion euros under the European defense spending loan program SAFE, EC spokesperson Thomas Regnier said at a briefing in Brussels, Report informs.
The EU Council should approve the updated version of Italy's plan, after which we will proceed to sign the loan agreement to be able to transfer the initial 15% to the Italian government, Regnier said.
The European Commission spokesperson emphasized the importance of approving the plan, considering the role of the Italian defense industry in Europe.
Meanwhile, Spain has signed a 1-billion-euro loan agreement under the SAFE program.
According to European Commissioner for Defense and Space Andrius Kubilius, the funds will be directed toward modernizing service conditions, training and equipping the Spanish armed forces, purchasing new defense and deterrence systems, and improving the interoperability of the Spanish armed forces with EU partners.