EU opens applications for remaining €21.3 billion in SAFE defense loans

The European Commission has opened applications for the remaining €21.3 billion under the SAFE defense loan program, urging member states to direct part of the funding toward joint arms purchases with Ukraine.

Report's European bureau informs that European Commission spokesperson Thomas Regnier announced the move in Brussels.

"The second round will be open to all European Union member states," he said.

EU countries must submit applications specifying their funding needs and national defense priorities. Once applications close, the Commission intends to notify member states of preliminary funding allocations within two weeks.

The Commission also urged EU countries to include joint procurement with Ukraine in their investment plans. Priorities include air and missile defense systems, drones and counter-drone capabilities, ammunition and missiles.

According to the Commission, the 19 countries that opted to participate in the program have received approval for loan agreements totaling €130 billion. Agreements have been signed with 16 of them, while almost €13.5 billion has been transferred to 11 countries that requested prefinancing.