EU Nations Approve Multi-Billion Defense Fund

The EU says yes to the first step in its new large defense plans when the multi-billion fund Safe now gets the green light. 1,600 billion kronor will be able to be lent out to joint defense procurements.

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EU Nations Approve Multi-Billion Defense Fund
Photo: Wiktor Nummelin/TT

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"A crucial step towards a stronger Europe. It delivers on the commitments made by EU leaders in March and helps member states invest jointly in European defence and strengthens our shared security", writes Council President António Costa on X after an agreement at ambassadorial level in Brussels.

The process has dragged on in time as countries have fought over how much must be procured in EU and by pure EU companies. Not least for Sweden, it has been important that non-European companies from, for example, the United Kingdom are not excluded.

I think it seems to be a good compromise. This is a more inclusive and more easily worked Safe (than the original proposal). From a Swedish perspective, it is important to be able to cooperate with the United Kingdom, stated Defence Minister Pål Jonson (M) when he and his colleagues discussed the issue on Tuesday.

Wednesday's approval is to be formally nailed down by the countries' EU ministers next week.

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By TTEnglish edition by Sweden Herald, adapted for local and international readers

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