Nine EU countries joined the SAFE military lending program: who is hesitant

Nine countries have officially expressed interest in borrowing funds from the European Union's €150 billion SAFE military procurement program by the end of the grace deadline on Tuesday evening for submitting proposals to Brussels. This was reported by Euractiv, citing the European Commission, according to UNN.

Details

EU countries have until midnight on Tuesday to express their interest to the Commission in receiving loans from the €150 billion SAFE financing mechanism, and to state how much they are willing to borrow.

Last week, EU Defense Commissioner Andrius Kubilius gave a "very conservative estimate" that "around 20 member states" are ready to take out loans.

The Commission remains "confident" that the number of countries joining the SAFE lending program will "increase quite impressively."

Currently, the Commission's list includes Belgium, Bulgaria, Cyprus, Czech Republic, Estonia, Spain, Finland, Hungary, and Lithuania. France, Ireland, Poland, Romania, Greece, Italy, Latvia, and Portugal have also shown interest in the program.

In June, Poland's Minister of State Assets, Jakub Jaworowski, announced that Poland would request €25 billion in loans. Greek Prime Minister Kyriakos Mitsotakis stated on Monday that Athens would submit a proposal on Tuesday, requesting "at least" €1.2 billion.

Those who are late can still be considered after Tuesday, which the Commission says is only an "initial soft deadline." A "full list" of interested countries will be published on Wednesday.

Addition

Ukrainian Prime Minister Denys Shmyhal discussed with EU Commissioner Valdis Dombrovskis Ukraine's integration into the SAFE initiative. The goal is to increase Europe's defense industry production capacity and strengthen security.

European Commission President Ursula von der Leyen proposes using €150 billion from the SAFE program for Ukraine. EU member states can invest these funds in Ukraine's defense industry.