Latvia has signed an agreement to receive a defense loan of nearly 3.5 billion euros under the European Union's SAFE program. This was reported by UNN citing Euractiv.
Details
The agreement was signed during a ceremony in Riga with the participation of EU Commissioner for Defense Andrius Kubilius, Latvian Prime Minister Andris Kulbergs, Defense Minister Raimonds Vējonis, and Finance Minister Māris Kučinskis. Latvia became the eighth country to join the EU defense credit program.
The funds are planned to be directed towards the development of unmanned aerial systems, guided missiles, anti-drone measures, and the expansion of the country's defense-industrial complex. Special attention will be paid to accelerating procurement and strengthening the security of NATO's eastern flank.
The government wants to allocate funds for the development of its own industry
Prime Minister Andris Kulbergs stated that the country's security remains the government's top priority, and the SAFE mechanism allows for obtaining the necessary resources to enhance defense capabilities.
This money should serve the development of Latvian industry and the interests of our economy
The European Commission noted that Latvia is one of the leaders in the development of anti-drone technologies. Recently, the country has been strengthening the protection of its eastern border after several incidents of drones entering its airspace that went off course due to Russian electronic warfare systems.
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