European Defence and Space Commissioner Andrius Kubilius announced today that Spain would be granted a EUR 1 billion loan for the purchase of defence material under the SAFE instrument.
© Reuters
10/10/2026
by
Lusa
O european Commissioner for Defence and Space Andrius Kubilius announced today that Spain would be granted a EUR 1 billion loan for the purchase of defence material under the SAFE instrument.
“ Today we signed a EUR 1 billion loan agreement with Spain, under Security Action for Europe (SAFE), for the rapid expansion of the capacity scale and readiness of Spanish defense,” Kubilius said in a social media publication.
The Commissioner presented this as a decisive step forward on the road to strengthening the Union’s Mediterranean flank, “a key step towards achieving a stronger and safer South and Mediterranean region of Europe,” he said.
The announcement takes place after the European Commission approved in January the first package of loans for the joint acquisition of defence material — under the SAFE instrument — for eight EU Member States, including Spain.
“ The others (countries) will join shortly thereafter,” Ursula von der Leyen, who urged the Council to approve these plans “to allow rapid disbursement”.
The initiative was approved “after a rigorous assessment” of national investment plans in defense of countries, paving the way for the first round of long-term and low-cost loans, with the aim of helping these nations “to urgently strengthen their military readiness and acquire the modern defense equipment they need”.
Financing levels for each country were provisionally set last September, based on the principles of solidarity and transparency.
On this basis, Spain has been allocated the amount of one billion it requested, thus placing it in the final part of the distribution, such as the third country with the lowest allocation of this fund, a position it shares with Finland (which will also receive the same) and only behind Denmark (46.7 million) and Greece (787 million).