European Sovereignty Monitor

Defence and space

EU Commission approves second SAFE defence loan wave for eight states, EUR 74 billion

The European Commission approved a second wave of SAFE loans for Estonia, Greece, Italy, Latvia, Lithuania, Poland, Slovakia and Finland, worth up to EUR 74 billion, opening the way for first disbursements once loan agreements are signed.

Verified European Commission (Defence Industry and Space) press release, 26 January 2026

What it does not test. Does not establish that the EUR 74 billion has been disbursed; the figure is an approved ceiling pending signed loan agreements.

How this item counts. No movement: no answer to who owns, who operates, whose law governs or who made the parts changes. Weight 0. EUR74bn loan ceiling approved; disbursement awaits signed bilateral loan agreements. European Sovereignty Index

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