EU nations massively take loans to back Ukraine - Who's leading
Photo: EU countries are massively applying for loans to support Ukraine (european-union)
Eighteen European countries apply for EU loans to buy weapons for Ukraine and boost their own defense - Poland, France, and Italy among the top applicants, Euractiv reports.
The new European defense loan programme SAFE (Security Assistance Facility for Europe), which provides up to €150 billion to strengthen defense capabilities, has turned from a little-known initiative into a highly demanded instrument in just a few weeks.
Already, 18 EU member states have officially submitted applications totaling around €127 billion, and more countries are expected to join. The program enables financing of joint purchases of ammunition and missiles for Ukraine, which became an additional incentive for participants.
Poland submitted the largest request - €45 billion. France plans to borrow €15-20 billion, Italy about €15 billion, Lithuania up to €8.76 billion, Estonia €3.6 billion, Bulgaria up to €3.5 billion, Greece €1.2 billion, and Spain €1 billion. Romania is considering a request for €10 billion, and Belgium up to €11 billion.
Several other countries, including Czechia, Latvia, Portugal, Croatia, and Hungary, also applied but did not disclose details. Cyprus and Finland are still determining the volume of borrowing.
Meanwhile, Austria, Slovenia, and Denmark have yet to make final decisions. Some countries, Germany, Luxembourg, and Sweden, do not plan to take out loans but are interested in joint defense contracts.
The European Commission reminded member states that applications to join SAFE can be submitted throughout the summer.
SAFE defense loan programme
In May 2025, EU countries officially approved the creation of the SAFE instrument, which allows for raising up to €150 billion in credit funding for investments in the defense industries of member states.
These funds are expected to be raised on financial markets and directed toward rapidly scaling up Europe's defense capacities. Funding will be provided at the request of member states based on their national defense plans.
In July, European Commission President Ursula von der Leyen urged EU countries to more actively purchase weapons directly from Ukraine using SAFE loans, emphasizing that this benefits Europe and is critically important for Ukraine's defense industry.
