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Defence and space

EU Commission approves first wave of SAFE defence loans for eight states, EUR 38 billion

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.

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Verified European Commission (Defence Industry and Space) press release, 15 January 2026

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

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