Canada Secures Entry to EU's SAFE Defense Spending Initiative
"As Canada's new government rebuilds, rearms and reinvests in the Canadian Armed Forces, we are focused on providing the women and men in uniform with the equipment they need, when they need it," Canadian Prime Minister Mark Carney's office announced Monday.
"As part of this mission, Canada signed a Security and Defense Partnership with the European Union earlier this year and launched negotiations toward Canada's participation in Security Action for Europe (SAFE), a key pillar of the EU's Readiness 2030 plan," the statement continued.
"Today, the Prime Minister, Mark Carney, announced the conclusion of negotiations for Canada's participation in SAFE – unlocking billions of dollars in potential defense opportunities for Canadian businesses," the office declared.
SAFE, approved by EU leaders in May 2025, will deliver competitively priced, extended-term loans to fast-track critical defense procurement.
The initiative represents a cornerstone of the European Commission's ReArm Europe Plan/Readiness 2030, designed to mobilize over €800 billion ($928 billion) in defense expenditure throughout the EU.
Though the loans will exclusively benefit EU member states, Ukraine and European Economic Area (EEA) and European Free Trade Association (EFTA) nations will qualify to join collective procurement arrangements under the framework.
Carney emphasized in the statement that Canada and the EU are strengthening their defense collaboration amid a dangerous and divided world.
"Canada's participation in SAFE will fill key capability gaps, expand markets for Canadian suppliers, and attract European defense investment into Canada," he added.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
