Europe Eyes Second SAFE Loans for Defence Amid Security Uncertainties

The European Commission is contemplating a second edition of its SAFE loans scheme for defence to enhance European security due to concerns over Russia and uncertain U.S. commitments. The initial 150 billion euro initiative saw high demand, prompting calls for another round.

In response to escalating security concerns and the perceived wavering of U.S. military support, the European Commission is exploring another iteration of its significant SAFE loans scheme aimed at bolstering defence initiatives across Europe.

President of the European Commission, Ursula von der Leyen, revealed at a Politico-hosted event in Brussels that the original scheme, valued at 150 billion euros, witnessed overwhelming demand from EU members, sparking discussions about extending the program.

Two EU officials, requesting anonymity due to the sensitivity of the matter, confirmed that discussions were underway to potentially launch this new phase in response to the continent's growing defensive needs.

(With inputs from agencies.)