By Melike Pala
BRUSSELS (AA) - The EU Commission on Monday approved a second wave of national defense plans under the Security Action for Europe (SAFE) initiative, paving the way for financial assistance to Estonia, Greece, Italy, Latvia, Lithuania, Poland, Slovakia, and Finland.
After assessing the member states’ national defense investment plans, the EU Commission said the new round of low-cost, long-term loans will enable those countries to rapidly boost military readiness and procure modern defense equipment.
“The Commission submitted a proposal to the Council to approve financial assistance for Estonia, Greece, Italy, Latvia, Lithuania, Poland, Slovakia and Finland,” the statement read.
The funding, provisionally set at around €74 billion ($87 billion) when announced in September, is intended to strengthen strategic defense capabilities and support Ukraine’s integration into the EU’s security framework.
The EU Council now has four weeks to adopt the necessary implementing decisions. Once approved, the Commission will finalize loan agreements, with the first disbursements expected in March 2026.
Assessments of defense plans submitted by other member states are ongoing.
The SAFE initiative, adopted on May 27, 2025, as part of the EU’s Readiness 2030 defense package, enables member states to scale up defense investments through joint procurement from the European defense industry, aiming to improve interoperability, predictability and cost efficiency.
Ukraine, EFTA/EEA countries, and potential EU candidate states are also eligible to participate in procurement and industrial agreements.