US EditionCanada seals deal on EU defence procurement as Munich summit tests transatlantic ties
Canada is the first non-European member in the EU's 150-billion-euro Security Action for Europe program, enabling partnerships and access to low-interest loans under ReArm Europe.
- Canada signed onto the European Union's 150-billion euro defence procurement program, becoming the first non-European country to join the Security Action for Europe initiative.
- The program allows Canadian companies to partner with European firms on joint defence projects and access favourable financing, strengthening collective security and supporting Ukraine's defence.
- Canada will pay a 10 million euro fee to join SAFE, which observers question how much investment it will generate for Canadian industry.
41 Articles
41 Articles
Canada Officially Joins EU Defence Procurement Financing Program
Canada’s Defence Minister David McGuinty says Ottawa has officially joined the European Union’s Security Action for Europe (SAFE) program that offers loans to member states to boost their military capabilities. It comes about a year after Prime Minister Mark Carney signed a strategic defence and security partnership agreement with the EU, and just over two months since Canada’s role in the program was finalized. In a joint statement issued in De…
Canada Becomes First Non-European in EU SAFE Procurement Program at Munich Conference
Canada formally joined the European Union’s Security Action for Europe (SAFE) defense procurement program on the sidelines of the Munich Security Conference, becoming the first non-European country to participate in the bloc’s new joint-buying framework, according to The Canadian Press on February 15. Canadian Defense Minister David McGuinty said the agreement links Canada to the EU’s approximately $162 billion loan-backed effort to accelerate j…
castanet.net
Canada seals deal on EU defence procurement as Munich summit tests transatlantic ties
Canada has officially signed onto the European defence procurement program it announced it would join last summer, as Washington's upending of geopolitics overshadows the world's top security conference.
Canada announced on Sunday its accession to the European Union's (EU) Security Action for Europe (SAFE) initiative. The SAFE European Instrument aims to provide low-interest loans for defence purchases. The SAFE agreement between Canada and the EU was signed by the Canadian Minister of National Defence, David J. McGuinty, on the sidelines of his participation in the Munich Security Conference, said Ottawa.
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