European Sovereignty Monitor

Defence and space

EU Council clears EUR 38 billion in first SAFE defence loans for eight states

Council of the EU cleared EUR 38 billion in SAFE loans for Belgium, Bulgaria, Denmark, Spain, Croatia, Cyprus, Portugal and Romania; loans require at least 65% EU/EEA-EFTA/Ukraine content in purchased equipment. Bulgaria's share: EUR 490 million.

Reported Euronews, 11 February 2026

What it does not test. Does not establish that any country has drawn down or spent the loan, nor which specific equipment will be bought.

How this item counts. Towards autonomy: it changes who made the parts. Binding 2 of 3 (agreed or funded), scale 3 of 3 (large), Reported counts half: weight +3 of 36 possible. €38bn SAFE loans (8 states) require ≥65% EU/EEA/Ukraine content; not yet disbursed. European Sovereignty Index

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