EU launches €150 billion arms fund amid security concerns

SAFE initiative aims to boost Europe's defence capabilities and reduce reliance on US protection.

The latest news on the European Union. We now know that the EU ministers have formally approved on Tuesday a €150 billion fund called Security Action for Europe (SAFE), intended to finance joint defence projects through EU-backed loans.

The initiative reflects growing anxiety over a potential Russian threat and uncertainty about future US military support. With a strong "buy European" clause, the scheme also seeks to reinforce the continent's defence industry. Check out the official press release here.

NATO Secretary General Jens Stoltenberg and European Council President Charles Michel arrive to attend in a video conference on security and defence in Brussels, Belgium on February 26, 2021 // Shutterstock

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