TL:DR – European finance ministers approve €74 billion defence plans from eight states
• On 17 February 2026, finance ministers approved defence investment plans from eight European states.
• The plans are collectively valued at €74 billion, part of the €150 billion Security Action for Europe (SAFE) fund.
• Poland requested over €43 billion in funding.
• A total of 19 member states applied for SAFE assistance; Czechia, France, and Hungary await approval.
• SAFE aims to boost defence procurement, including European-made equipment.
Ministers greenlight member states’ plans worth half of EU’s €150bn defence loan scheme
The national defence investment plans of eight European Union member states, collectively valued at €74 billion, were approved by finance ministers on Tuesday, 17 February 2026. The plans come as part of the Security Action for Europe (SAFE) financial instrument, which offers long-term loans to enhance defence capabilities across the bloc.
This significant approval follows a previous endorsement from defence ministers for an initial batch of plans from eight other member states worth €38 billion. The plans aim to address increasing defence needs amid regional security concerns, with Poland prominently requesting over €43 billion of the allocated funds.
Approval of Investment Plans for European Defence
The plans submitted by Estonia, Greece, Italy, Latvia, Lithuania, Poland, Slovakia, and Finland utilise half of the €150 billion available through the SAFE initiative. A spokesperson for the Cypriot presidency of the Council of the European Union stated, “These implementing decisions will pave the way for affordable, long-term loans to be released by the Commission under the SAFE instrument, demonstrating that the EU is delivering when it comes to defence.”
A total of 19 member states have applied for financial assistance under the SAFE programme. Czechia, France, and Hungary are still awaiting approval from the European Commission before they can move forward with their plans.
Details of the SAFE Financial Instrument
The SAFE initiative is part of the European Commission’s Readiness 2030 plan aimed at allocating up to €800 billion into defence by the end of the decade. The scheme specifically prioritises the procurement of various defence products, including ammunition, drones, and cybersecurity technology.
Commission President Ursula von der Leyen noted that the scheme’s popularity has exceeded expectations, prompting discussions about potential expansions beyond the current budget. The programme’s stipulation that equipment purchased must be predominantly European-made seeks to enhance local defence capabilities while financially benefiting member states with lower credit ratings.
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