Eighteen EU members apply for a total of $147 billion from defence fund

FILE PHOTO: Farmers protest against proposed cuts to Common Agricultural Policy (CAP) funding, in Brussels

FILE PHOTO: European Union flags flutter outside the EU Commission headquarters in Brussels, Belgium July 16, 2025. REUTERS/Yves Herman/File Photo

Source: REUTERS

Eighteen European Union states have so far shown an interest in taking out loans worth a total of at least 127 billion euros ($147 billion) from a fund aimed at boosting the bloc's defences, the European Commission said on Wednesday.

The fund, known as Security Action for Europe, is ultimately expected to generate 150 billion euros in defence investments. Countries have until November 30 to submit their requests.

The Commission said the initial "strong interest" allowed it to prepare to raise funds on capital markets.

The countries that have so far shown interest are Belgium, Bulgaria, Czech Republic, Estonia, Greece, Spain, France, Croatia, Italy, Cyprus, Latvia, Lithuania, Hungary, Poland, Portugal, Romania, Slovakia and Finland.

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This article was produced by Reuters news agency. It has not been edited by Global South World.

By Reuters