EU launches €150 billion SAFE defense loan program — what Ukraine can expect?

The full document on SAFE program has been published on the European Commission official website.

The largest shares will go to Poland, Romania, France, and Hungary. The loans are intended to help EU member states acquire a wide range of military equipment — from artillery and air defense systems to drones and AI technologies.

Although Ukraine cannot receive direct loans under SAFE, it is allowed to participate in joint procurements. Ukrainian defense companies have been granted equal status with EU contractors, meaning that purchases from Ukraine, in Ukraine, and for Ukraine are permitted under the program.

The loans include a 10-year grace period, and participating states may enter bilateral agreements with third countries to expand cooperation.

Countries receiving SAFE loans include:

• Poland – $46.7 bn (€43.7 bn)
• Romania – $17.8 bn (€16.7 bn)
• France – $17.3 bn (€16.2 bn)
• Hungary – $17.3 bn (€16.2 bn)
• Italy – $15.9 bn (€14.9 bn)
• Belgium – $8.9 bn (€8.3 bn)
• Lithuania – $6.8 bn (€6.4 bn)
• Portugal – $6.2 bn (€5.8 bn)
• Latvia – $6.1 bn (€5.7 bn)
• Bulgaria – $3.5 bn (€3.3 bn)
• Estonia – $2.8 bn (€2.7 bn)
• Slovakia – $2.5 bn (€2.3 bn)
• Czechia – $2.2 bn (€2.1 bn)
• Croatia – $1.8 bn (€1.7 bn)
• Cyprus – $1.3 bn (€1.2 bn)
• Finland – $1.1 bn (€1.0 bn)
• Spain – $1.1 bn (€1.0 bn)
• Greece – $850 mln (€790 mln)
• Denmark – $53 mln (€50 mln)

Countries must submit formal investment plans by Nov. 30, 2025. The first loans are expected to be issued in early 2026.

SAFE was adopted by the EU on May 27, 2025. So far, 19 EU states have requested funding through the mechanism, and 13 of them have expressed willingness to support Ukraine using part of the funds.