European Commission President Ursula von der Leyen announced on Monday 15 June that Canada’s financial contribution for its participation in the ‘SAFE’ loan facility, intended to increase military spending by European Union countries, had been reassessed at “€75 million” (see EUROPE 13764/25).
On the same day, the EU Council announced that it had officially concluded the participation agreement of the third country, a G7 member, in the European loan facility, which has a budget of €150 billion.
From Évian, where she is taking part in the G7 summit, Ms von der Leyen also referred to “very good news” for France, “a key player in European security”, with which the Commission will sign the ‘SAFE’ loan agreement on Wednesday, worth “€15 billion” (see EUROPE 13842/5). France is the eighth Member State, out of the 19 participating Member States, to sign such a loan agreement.
The Commission President noted that, to date, “more than €78 billion” had been committed through the ‘SAFE’ facility in nine areas of activity, such as “missiles and drones”.
Only Hungary still has to obtain approval for its national investment plan under the European loan instrument. Hungary’s new authorities are trying to row back so that the Hungarian plan is less generous towards companies run by associates of former Prime Minister Viktor Orbán. (Original version in French by Mathieu Bion)