European Countries To Borrow Billions Of Dollars From EU To Rearm Ukraine

20 countries plan to request up to 100 billion euros.

Key EU countries are preparing to apply for participation in the Support for European Facilities (SEF) program, which envisages the allocation of up to 150 billion euros to support Ukraine's defense and build up its own weapons. This is reported by Politico.

The program, proposed by the European Commission as part of the ReArm Europe initiative, is aimed at strengthening the European defense industry and reducing dependence on the United States. The borrowed funds are supposed to be used for joint arms purchases, which would reduce costs and speed up deliveries to Ukraine.

Countries such as Finland, Denmark, Poland, the Czech Republic, Latvia, Lithuania, Bulgaria, Slovakia and Greece have confirmed participation or expressed interest. France is also likely to join. Germany, the Netherlands and Sweden, meanwhile, plan to opt out, according to the publication.

According to European Defense Commissioner Andrius Kubilius, some 20 countries already intend to request up to 100 billion euros. The deadline for applications expires today, but participation is allowed later. The loans are for 45 years with a down payment of 15%, which the EU will cover thanks to its AAA credit rating.

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