Italy requested only €8B from EU under SAFE

Italy has requested only 8 billion euros ($8.8 billion) from the European Union under the SAFE defense credit program, declining access to the full allocation of 14.9 billion euros, European Commissioner for Defense and Space Andrius Kubilius told journalists in Brussels, Report informs.

"Now we are waiting for their operational plan for review," Kubilius said.

Italy received EU approval in February for the maximum loan of 14.9 billion euros under SAFE - a 150 billion-euro program established to strengthen Europe's defense industry. Rome had previously delayed deciding whether to tap the full amount reserved for it.

The Italian decision followed months of friction within the ruling coalition. In July, Foreign Minister Antonio Tajani stated that Italy intended to request the full loan amount, but his announcement met resistance from the League party. The government also debated the fiscal implications of increased defense spending on Italy's national budget. Defense Minister Guido Crosetto had earlier urged a decision on SAFE, highlighting the financial benefits of the program for Italy.

Kubilius stated that 18 EU member states have applied for SAFE loans, with some countries already receiving initial disbursements of 15% of their agreed amounts based on their operational plans. Upon receiving and reviewing the Italian plan, the European Commission will be able to proceed with further implementation of the loan.

Hungary remains the final country required to submit its final request for the SAFE amount. Once submitted, the European Commission will recalculate the remaining unrequested funds and hold a second round of allocation.