The European Commission has approved the first wave of national defence investment plans under the EU’s €150 billion Security Action for Europe (SAFE) defence financing programme, paving the way for long‑term, low‑cost loans to member states for procurement and capability building.

The Commission endorsed plans from Belgium, Bulgaria, Denmark, Spain, Croatia, Cyprus, Portugal and Romania, and has submitted them to the Council of the EU for final approval, officials said.

Once the Council signs off, the bloc can start finalising loan agreements and disbursements, with first payments expected in March 2026.

The endorsed plans collectively amount to around €38 billion in financing for defence procurement, with tentative allocations set last year — including roughly €1.18 billion for Cyprus and €16.68 billion for Romania.

SAFE, created under the EU’s broader Readiness 2030 defence strategy, is designed to help EU countries scale up joint purchases of weapons, ammunition, drones and other priority systems through competitively priced EU‑backed loans. Member states present national plans outlining how they intend to use the funds to strengthen military capabilities.

Further approvals are expected in the coming weeks.