8legs: Ursula von der leyen

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world5h ago

Canada to sign up to flagship EU defense credit fund – DW – 12/02/2025

Canada will join the EU SAFE defense financing instrument as a non-member to support joint weapons purchases.
The SAFE program will offer loans on favorable terms, secured via the EU budget, to support defense procurement.
The agreement was announced by Ursula von der Leyen and Canadian Prime Minister Mark Carney in a joint statement.
Non-member states like Canada could receive exemptions from certain SAFE requirements, such as the 65% EU-component rule.
The United Kingdom explored joining SAFE but opted not to due to the entry fee.
The announcement frames EU-Canada cooperation as a core response to global security challenges.
Canada seeks to diversify defense partnerships beyond the United States amid shifting relations.
The SAFE program is framed as a means to boost Europe's defense industry and supply resilience.
The EU budget will back the loans under the SAFE scheme as part of its defense strategy.
This marks a step in deepening EU-Canada defense cooperation ahead of broader strategic shifts.

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