The European Commission is set to convince the member states of the European Union by the end of the year to use approximately 21 billion euros from unspent loans earmarked for defense. The funds are part of the SAFE program, whose total original volume was 150 billion euros. Trend ↗
According to the proposal, the remaining loans could be used to support Ukraine's defense. Up to ten billion euros could be directed toward this purpose. However, the decision on how to use the money must be made by the member states, which have so far not drawn down all the funds allocated under the program. aktuality.sk ↗
The Commission is therefore continuing negotiations with the countries of the European Union until the end of December. Its goal is to reach an agreement on how to use the remaining loans to strengthen defense capabilities and support Ukraine. STVR (Minúta po minúte) ↗
The SAFE program, whose name is an acronym for Security Action for Europe, was created as a tool for financing defense projects. The unspent funds represent part of the originally allocated sum that has not yet been assigned to individual states.
Further steps will depend on the decisions of the member states and the outcome of negotiations with the European Commission. By the end of the year, it thus remains open to what extent the unused loans will be successfully redirected toward defense needs and aid to Ukraine.
Commission wants to use unspent SAFE loans for Ukraine's defense
This summary was generated by artificial intelligence. It may contain inaccuracies. Please verify information in the original sources below.
Sources (3)
Z nevyužitých úverov programu SAFE môže ísť až desať miliárd na podporu ukrajinskej obrany
aktuality.sk
| 11:29 29.10.
V úveroch SAFE zostávajú miliardy eur, získať ich môže aj Ukrajina
Trend
| 10:10 29.10.
Európska komisia má do konca roka čas presvedčiť členské štáty EÚ, aby využili asi 21 miliárd eur z nevyčerpaných úverov na obranu.
STVR (Minúta po minúte)
| 11:12 29.10.
🔥 You might also like
📰
Economy & Business
TotalEnergies posts record profit, government demands cheaper diesel
French energy company TotalEnergies posted a net profit of $8.3 billion in the third quarter. It rose 124 percent year-on-year and represents...
📰
Economy & Business
Healey promises reduction in welfare spending before election
British Finance Minister John Healey, after presenting the Labour government's first budget, promised to cut welfare spending before the next election.
📰
Economy & Business
European Commission presents plan for adaptation to climate change
On Tuesday, October 27, the European Commission presented a comprehensive plan for how the EU should prepare for the consequences of climate change.
© HotInfo
Geographic locations
From our newsroom original
All →
Christine Lagarde to step down as ECB chief in February 2027
Czech Television boss Chudárek to meet with Prime Minister Babiš
New Berlin parliament holds its constituent session
Mecca Pact Countries Held Their First Joint Talks in Tehran. They Agreed Only to Keep Talking
Cruise ship with over 3,300 people on board collided with two container ships in Bremerhaven
Swiss court convicts Belarusian over disappearance of Lukashenko opponent in 1999
Orbán for UN Secretary-General? WSJ Editorial Says Washington Is Pushing Him, Moscow Points to Latin America
International Criminal Court may use American software even under US sanctions
