EU countries agreed to create a defensive fund for 150 billion euros. The EU 150 billion euros is aimed at strengthening its own protection. SAFE will also get access to lending in accordance with the SAFE initiative.
The Member States of the European Union agreed to create a security fund for Europe (SAFE), Reuters and AFP are reported with reference to European diplomats.
The European Commission has submitted a plan for creating this credit tool in March, and since then there have been discussions between the EU members about areas in which loans could be sent.
The creation of the fund should be approved by the relevant EU authorities – it is expected that it will take place on May 27.
The fund will be funded by joint loans of the EU countries. According to Reuters, loans, strengthening defense will also be able to get individual countries outside the European Union, including Ukraine.
It is also possible to purchase weapons at the expense of this fund in third countries, including Ukrainian manufacturers.
A safe fund is part of the EU wider efforts to strengthen protection. In total, the program presented in March provides for a mobilization of about 800 billion euros to ensure the safety and stability of Europe.
Source: Racurs
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