Canada agrees to participate in EU’s SAFE initiative related to defense
SAFE, adopted by EU leaders in May 2025, is part of the European Commission’s Readiness 2030/ReArm Europe Plan. The initiative provides competitively priced, long-term loans to accelerate urgent defense procurement, unlocking over €800 billion ($928 billion) in defense spending across the EU. While loans are limited to EU member states, Ukraine and countries in the European Economic Area (EEA) and European Free Trade Association (EFTA) are also eligible to participate in joint procurement under the scheme.
Canada signed a Security and Defense Partnership with the EU earlier this year and launched negotiations for participation in SAFE. Prime Minister Mark Carney announced the conclusion of these negotiations on Monday, emphasizing that Canada’s involvement will create billions of dollars in potential defense opportunities for Canadian businesses.
Carney noted that the collaboration will help fill critical capability gaps, expand markets for Canadian defense suppliers, and attract European defense investment into Canada. He described the partnership as a step toward strengthening defense ties amid a “dangerous and divided world.”
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