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# EU Commission approves first wave of SAFE defence loans for eight states, EUR 38 billion
- URL: https://sovereigntymonitor.eu/news/2026-01-15-safe-first-wave-defence-loans/
- Published: 2026-01-15T12:00:00.000Z
- Updated: 2026-09-01T10:51:31.000Z
- Description: The European Commission proposed to the Council that Belgium, Bulgaria, Denmark, Spain, Croatia, Cyprus, Portugal and Romania receive a combined EUR 38 billion in SAFE loans, the first wave of the EU's EUR 150 billion defence borrowing instrument, to fund joint procurement.
- Author: Reidar Balstad
- Tags: Defence and space, Policy and law, #news, #verified

Verified [European Commission (Defence Industry and Space) press release, 15 January 2026](https://defence-industry-space.ec.europa.eu/commission-approves-first-wave-defence-funding-eight-member-states-under-safe-2026-01-15%5Fen?ref=sovereigntymonitor.eu)

**What it does not test.** Does not establish that the loans have been disbursed or that the underlying Council legal act has been adopted.

**How this item counts.** No movement: no answer to who owns, who operates, whose law governs or who made the parts changes. Weight 0\. Commission proposes EUR38bn loans to Council; not yet adopted or disbursed. [European Sovereignty Index](https://sovereigntymonitor.eu/sovereignty-index/)