STRASBOURG, France, Sept. 9 (Xinhua) -- The European Commission on Tuesday unveiled a tentative allocation of 150 billion euros (176 billion U.S. dollars) under the Security Action for Europe (SAFE) program.
According to the Commission, the measure aims to help member states address critical gaps, enhance joint procurement of defense equipment, and further improve the bloc's defense capabilities.
The SAFE program, adopted by the EU Council in May, is designed to provide long-term, low-cost loans for the urgent procurement of defense equipment.
The first payments are scheduled for early 2026. (1 euro = 1.17 U.S. dollar) ■
