TL:DR – EU Defence Ministers Approve Investment Plans Worth €38 Billion on Wednesday
• On Wednesday, 11 February 2026, EU defence ministers approved national investment plans worth €38 billion from Belgium, Bulgaria, Denmark, Spain, Croatia, Cyprus, Portugal, and Romania.
• Vasilis Palmas, Cyprus Defence Minister, stated that the EU is delivering on defence through the €150 billion SAFE scheme.
• The Commission will finalise loan agreements to disburse up to 15% of requested funds.
• A second group of eight plans worth €74 billion from others has been approved, with final approval expected on 17 February.
• The Commission has yet to decide on plans from Czechia, France, and Hungary, valued at over €34 billion.
• Ursula von der Leyen noted the SAFE scheme’s popularity, indicating potential expansion.
• Ministers authorised a bilateral agreement for Canadian participation in the SAFE procurement process.
EU approves €38bn in first defence investments under €150bn SAFE scheme
European Union Defence Ministers Approve €38 Billion for National Investment Plans
On Wednesday, 11 February 2026, European Union defence ministers approved the national investment plans of eight member states, enabling initial disbursements under the bloc’s €150 billion Security Action for Europe (SAFE) scheme. This approval is significant as it represents a decisive step towards enhancing collective European security through substantial investments in defence.
According to Vasilis Palmas, Minister of Defence of Cyprus, which currently holds the presidency of the Council of the EU, “Today’s decisions show that the EU is not only talking about defence – we are delivering.” The approved plans from Belgium, Bulgaria, Denmark, Spain, Croatia, Cyprus, Portugal, and Romania collectively amount to €38 billion.
First Disbursements Under SAFE Scheme
The eight member states are the first of 19 that applied for financial assistance under SAFE to have their defence investment plans accepted by the European Commission in mid-January. This approval permits the Commission to finalise loan agreements and commence disbursement of pre-financing payments, which may reach up to 15% of the requested funds. Further funding tranches will be distributed based on updates from member states.
In January, an additional eight national plans, worth a total of €74 billion, submitted by Estonia, Greece, Italy, Latvia, Lithuania, Poland, Slovakia, and Finland, were endorsed by the EU executive, with final approval anticipated at a forthcoming economy ministers’ meeting on 17 February in Brussels.
Ongoing Evaluation of Additional Plans
The national investment proposals from the Czech Republic, France, and Hungary remain under review, with a Commission spokesperson confirming they “would not speculate on the timeline.” These three plans represent just over €34 billion. Notably, Germany did not seek any SAFE funds.
Commission President Ursula von der Leyen indicated last year that the scheme’s popularity could lead to further expansions, as it was oversubscribed with the initial requests exceeding €150 billion.
The defence ministers also authorised the EU to enter a bilateral agreement with Canada, allowing Canadian companies to participate in procurement under the SAFE instrument, marking Canada as the first non-European country to engage with this defence funding initiative. This agreement is pending formal endorsement from the European Parliament.
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