Portugal's Strategic Leap: 5.8 Billion Euro Bet on Defence

Portugal has applied for 5.8 billion euros in loans under the EU's SAFE programme to enhance its military capabilities. The initiative focuses on defending Europe against potential threats from Russia and is part of a broader EU defense strengthening effort, with funding decisions expected by 2026.

In a significant move to bolster its defense capabilities, Portugal has applied for 5.8 billion euros in low-cost loans from the European Union's new Security Action For Europe (SAFE) programme, according to Cabinet Minister Antonio Leitao Amaro.

The SAFE initiative, a substantial 150 billion euros undertaking, seeks to enhance EU defense capabilities, address critical gaps, and procure essential equipment amid potential threats from Russia. It offers long-term, 45-year maturity loans with a decade-long grace period.

Leitao Amaro highlighted the importance of this effort in empowering Portugal's armed forces, though specific equipment acquisitions remain unspecified. He emphasized a goal to strengthen Portuguese industry as the European Commission prepares to review spending plans and make initial funding approvals by 2026.

(With inputs from agencies.)