Brussels: The European Commission has announced that the EU Council has approved the Security Action for Europe (SAFE) instrument, a key element of the ReArm Europe - Readiness 2030 plan, aimed at enhancing the EU's defense capabilities in the face of increasing security threats.
According to Kuwait News Agency, the SAFE initiative will enable the European Commission to raise up to EUR 150 billion from capital markets to assist member states in investing in crucial defense areas, including air and missile defense systems, drones, and other essential technologies. European Commission President Ursula von der Leyen described the approval as a "decisive step forward," emphasizing the urgency for Europe to take greater responsibility for its own security and defense.
Von der Leyen noted that SAFE would not only improve the EU's defense capabilities but also support Ukraine and bolster Europe's defense industrial base. She remarked, "this is about readiness, resilience, and building a true European defense market." Commissioner for Defense and Space Andrius Kubilius praised the agreement, highlighting that it demonstrates Europe's commitment to security and industrial resilience. He explained that the new mechanism facilitates defense procurement "with Ukraine, for Ukraine, and in Ukraine."
EU member states will have six months from the regulation's start date to submit national investment plans, which will undergo review by the Commission. SAFE is an integral part of the broader Readiness 2030 strategy, which aims to mobilize up to EUR 800 billion in defense investments by leveraging EU funds, national spending, and private sector contributions to enhance the continent's collective security and reduce dependence on external partners.