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world14h ago
Canada joins EU defense fund as the country pivots away from the US
- Canada has joined the EU SAFE defense loan program, enabling access for Canadian firms.
- The objective is to diversify procurement and expand markets for Canadian suppliers.
- Canada becomes the first non-EU country to gain access to SAFE.
- Prime Minister Mark Carney frames the move as diversifying away from U.S. defense spending.
- Sweden’s Saab option for assembly and maintenance of fighters was mentioned as a comparative option.
- Canada is expected to meet NATO military spending guidelines by early next year.
- Britain’s participation in SAFE ended without agreement amid funding disputes.
- Canada’s move may influence future defense procurement decisions, including jet purchases.
- The SAFE program is a 150 billion euro loan program designed to diversify defense funding.
- Officials emphasize SAFE will attract European defense investment into Canada.
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