Bulgaria receives 489.3 million euro first payment under EU’s SAFE defence instrument
Bulgaria received on August 28 its first payment, adding up to 489.3 million euro, under the Security Action for Europe (SAFE) defence instrument, the European Commission (EC) said.
The payment represents 15 per cent of the country’s total allocation of 3.3 billion euro, the EC said.
SAFE is a 150 billion euro financial instrument providing loans to EU member states.
It primarily funds joint procurement of ammunition, missiles, air defence, and ground combat systems produced within the EU.
It is part of the European Commission’s ReArm Europe/Readiness 2030 plan, which aims to unlock more than 800 billion euro in defence investment across the European Union.
The pre-financing will help Bulgaria accelerate priority defence investments, strengthen resilience, and modernise its military capabilities in line with shared European goals, the EC said.
“SAFE is designed to enable swift, co-ordinated action, improve the ability of European forces to work together, and strengthen Europe’s defence industry, including through joint procurement and closer cross-border co-operation,” the Commission said.
The payment follows the completion of all required procedural steps and reflects the EU’s commitment to providing timely, practical support through SAFE, the statement said.
Further payments will follow, as agreed milestones and implementation are met.
The SAFE instrument is financed by EU borrowing on the financial markets.
This enables competitively priced and attractively structured long-duration loans to requesting member states, the statement said.
The terms of the SAFE loans benefit from the EU’s strong credit rating, the EC said.
(Photo: Interior Ministry)
