Brussels Approves Hungary’s €5.4bn Defence Loan
The loan is part of the Security Action For Europe program, which still has over €21 billion available, the Commission said.
- The European Commission approved Hungary's €5.4 billion Security Action For Europe defence loan, officially concluding the first round of the landmark financing programme to bolster Europe's military readiness.
- Hungarian Prime Minister Magyar trimmed the application from €16.4 billion to €5.4 billion after taking office in April, citing alleged corruption risks linked to the previous government.
- 19 member states secured €129 billion in SAFE loans for strategic defence investments, with Poland receiving €43 billion and Denmark the smallest allocation of €46.8 million.
- European Commission spokesperson Thomas Reginer confirmed over €21 billion remains in the funding envelope, with member states invited to express interest in new or additional loans by December.
- As intelligence agencies identify 2030 as a potential year for Russian aggression against NATO, the programme encourages joint procurement and stronger industrial cooperation to strengthen Europe's military interoperability.
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European Commission approves Hungary's EUR multi-billion defence plan
The European Commission has approved Hungary’s EUR 5.4 billion defence investment plan under the European Union’s Security Action for Europe (SAFE) programme, paving the way for the proposal to be considered by EU member states.Continue reading
The European Commission is expected to contact Member States at a later date regarding the remaining funds.
Previously, we were going to borrow 16 billion euros, but the government of Péter Magyar then reduced the amount to 5.4 billion.
The EUROPEAN Commission has approved a €5.4 billion defense loan to Hungary from the SAFE program. Prime Minister Magyar has reduced the request. €21 billion remains for the new round of financing.
The European Commission on Wednesday approved Hungary's €5.4 billion (around HUF 2,000 billion) defence investment plan under the EU's SAFE loan programme. Brussels has thus accepted the last national plan still under consideration, but the disbursement of the money requires approval from the Council of the European Union. The Orbán government originally requested €17.4 billion, but the European Commission did not accept the plan for a long time…
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