The European Commission has approved the first loan agreement under the SAFE defense program for Poland for almost PLN 190 billion.
The European Commission approved the first loan agreement under the SAFE defense program – its signing is scheduled for Friday in Warsaw with the participation of European Commission representatives and Polish government officials. Poland has become the actual starting beneficiary of the program, becoming the first EU country to undergo the approval procedure.
The SAFE program provides Poland with funding in the amount of about PLN 190 billion, which could become one of the largest defense sector support packages in the history of the state.
The funds are planned to be used for the modernization of the Polish Armed Forces, the development of air defense systems, countering drones, artillery and military infrastructure. A significant part of the funding is also intended to support the Polish defense industry.
After signing the agreement, the EU will be able to access capital markets to raise funds and distribute them among participating countries. In total, 19 countries participate in the SAFE program, and its total volume reaches tens of billions of euros. Poland is the largest recipient of funds, while other participating countries are undergoing similar approval procedures.
