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European Union defense ministers on Wednesday approved national investment plans from eight member states totaling €38 billion, clearing the way for the first disbursements under the bloc’s €150 billion Security Action for Europe (SAFE) program.

The officials also adopted a decision authorising the EU to sign the bilateral agreement between the EU and Canada on the participation of Canadian companies and products originating from Canada in procurement under the SAFE Instrument.

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SAFE is an EU financial instrument supporting member states that wish to invest in defence industrial production through common procurement, focusing on priority capabilities ... boosting production capacity, ensuring the timely availability of defence equipment, and addressing existing capability gaps.

Canada will be the first non-European country to participate in the SAFE instrument.

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