Safe: Italia requests the release of the 8.9 billion loan – what can the funds be invested in?
Tajani: “We have decided to use less of it (compared to the 14.9 million earmarked, ed.) because we need to invest more in healthcare and social policies; the crisis triggered by the war in Iran has brought about some changes.”
A letter delivered to Brussels late on Wednesday evening brings to an end, at least formally, months of wrangling between Rome and the European Commission over the SAFE defence funds. Italia will use part of the loans it has reserved, but not the entire package made available by the EU.
What is Safe
Safe, which stands for Security Action for Europe, is the instrument through which the EU raises up to 150 billion euros on the capital markets by issuing common bonds, which it then passes on to Member States as long-term loans at preferential rates, with maturities of up to 45 years and a ten-year grace period.
Coming into force on 29 May 2025, it forms the first pillar of the ReArm Europe plan, later renamed Readiness 2030. Between 11 February and 10 April 2026, the Council approved the plans of 18 member states, including Italia, which had earmarked 14.9 billion, the third-highest amount after Poland, Romania and France.
Almost 9 billion for Italia
In the final request, the figure drops to 8.9 billion: ‘almost 9’, as Deputy Prime Minister and Foreign Secretary Antonio Tajani put it on the sidelines of the Rimini meeting. “We have decided to use less (than the 14.9 million earmarked, ed.) because we need to invest more in healthcare and social policies; the crisis arising from the war in Iran has brought about changes,” explained Tajani, adding that the Ministry of Defence will now draw up a list of projects to be funded, “many of which have already been planned in collaboration with other states”.
What can you invest in?
The funds may be used to finance two categories of defence products, in accordance with EU Regulation 2025/1106. Category I includes ammunition and missiles, artillery systems with long-range precision strike capabilities, land combat capabilities and equipment for soldiers, small drones and associated anti-drone systems, critical infrastructure protection, cyber capabilities and military mobility.
