EU announces about $170B defense industry loan plan
Published May 22nd, 2025 - 01:12 GMT
ISTANBUL- EU member states have agreed to establish a €150 billion (nearly $170 billion) Defense Industrial Readiness Loan Instrument (SAFE) to boost the bloc's defense sector, with Ukraine formally recognized as a partner country, Ukrainian Prime Minister Denys Shmyhal has said.
In a statement on X on Wednesday, Shmyhal said the decision would help integrate Ukraine into the EU's joint defense procurement efforts and open opportunities for Ukrainian firms within European supply chains.
He described the initiative as 'important and urgent' for bolstering the security of both EU member states and Ukraine.
'We are stronger together,' Shmyhal said, thanking European Commission President Ursula von der Leyen, as well as Poland and other EU partners for their continued support.
SAFE is expected to channel significant loans to strengthen industrial capacity across the EU in response to rising geopolitical tensions and growing security demands on the continent.
The European Commission has not yet publicly commented on the timeline for the instrument's implementation.
Via SyndiGate.info
� Copyright Andolu Ajansi
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Jordan News
11 hours ago
- Jordan News
JD 2.849 Billion – Amman's Industrial Exports in First Five Months of 2025 - Jordan News
Amman Chamber of Industry exports continued their upward momentum in 2025, reflecting the resilience of Jordanian industry in overcoming challenges and expanding its presence in export markets. اضافة اعلان During the first five months of 2025, the Chamber's exports grew by 12.2% compared to the same period in 2024, reaching JD 2.849 billion, up from JD 2.540 billion. Sector Performance Most industrial sectors experienced export growth during this period, with the exception of: Wood, furniture: ↓ 14% Packaging, paper, office supplies: ↓ 9.2% On the other hand, exports of eight other sub-sectors increased, led by: Construction materials: ↑ 86.7% (highest) Engineering, electrical, IT: ↑ 0.5% (lowest) Top Export Destinations India, the United States, Saudi Arabia, and Iraq accounted for over JD 1.635 billion, more than half of the total exports. India: ↑ 14.7% to JD 395 million Saudi Arabia: ↑ 7.2% to JD 352 million Iraq: ↑ 4.8% to JD 381 million United States: ↓ 5.1% to JD 507 million (still the top importer) Notably, exports to: Syria: ↑ 302.1% to JD 114 million (from JD 28 million in 2024) Palestine: ↑ 21% to JD 69 million Geographic Distribution Arab countries: JD 1.396 billion Non-Arab Asian countries: JD 566 million North America: JD 528 million European Union: JD 148 million Africa: JD 82 million Non-EU Europe: JD 79 million South America: JD 20 million Other countries: JD 27 million Sector Breakdown (First Five Months of 2025) Mining industries: JD 610 million Chemicals & cosmetics: JD 532 million Engineering, electrical & IT: JD 444 million Food, agriculture & livestock: JD 417 million Medical & healthcare: JD 273 million Textiles & leather: JD 247 million Plastics & rubber: JD 130 million Packaging & office supplies: JD 102 million Construction materials: JD 87 million Wood & furniture: JD 8 million Founded in 1962, the Amman Chamber of Industry currently includes 8,600 industrial establishments, employing around 159,000 workers, with total capital reaching JD 5 billion.
Al Bawaba
13 hours ago
- Al Bawaba
Video: PSG's Hakimi gives Brigitte Macron an awkward look
Published June 3rd, 2025 - 12:23 GMT ALBAWABA - Paris Saint-Germain (PSG) star Achraf Hakimi recently went viral on social media after a video revealed him giving Brigitte Macron an odd and awkward look during a meet-up that celebrated the football team's victory against Inter Milan in the Champions League finale. PSG won against Inter Milan 5-0 at the UEFA Champions League Final on May 31, 2025, sparking widespread celebrations on social media and in Paris' streets. Hakimi contributed to one goal out of the five scored in Milan's net. Several social media users noticed Hakimi's observatory look, alongside his teammate Lucas Hernández, who appeared visibly uncomfortable and confused. This may have stemmed from recent media coverage and controversy surrounding Brigitte Macron's appearance and identity. Recent rumors and investigations from the media claimed that Brigitte Macron is a transgener who was born a man with childhood photos as "evidence." The alleged photos were first shared by a French magazine, but quickly flooded social media with claims and reports. — Camille Moscow 🇷🇺 🌿 ☦️ (@camille_moscow) June 2, 2025 However, many reported on social media that the boy in the photos was not Brigitte Macron but "her brother, Jean-Michel Trogneux, from 1953, 1954, and 1955." The ongoing rumors were recently reignited by American far-right political commentator Candace Owens, who claimed that French President Emannuel Macron and his wife Brigitte sent her a "legal threat" to prevent her from speaking further about the matter in question. The rumors first occurred when two women (Amandine Roy and Natacha Rey) went on YouTube claiming that Brigitte was born in 1953 as a boy under the name "Jean-Michel Trogneux." They were later targeted in a defamation lawsuit and persecuted by a court in Normandy city. Emmanuel Macron has constantly denied the allegations mentioned above across the years, describing them as "false" and "fabricated lies." © 2000 - 2025 Al Bawaba (
Al Bawaba
13 hours ago
- Al Bawaba
Video: Ukraine blows up Kerch bridge in Crimea
Published June 3rd, 2025 - 12:29 GMT ALBAWABA - Ukraine has blown up the Kerch bridge in the Crimea region, a video released by Ukraine's Security Service was shared on social media on Tuesday. Kyiv used underwater explosives to carry out the attack. According to the Euro News website, the Kerch bridge was "illegally" constructed by Russia following the unilateral annexation of the Ukrainian peninsula. Media reports revealed that the Kerch bridge in Crimea is considered a main bridge made by Russia after its unilateral annexation of the Ukrainian peninsula back in 2014. Holy shit Ukraine's SBU security service behind the audacious drone attack deep inside Russia now says it has attacked the Kerch bridge in occupied Crimea in a months-long operation. It says SBU agents "mined the supports" of the bridge with 1,100kg of TNT under the water line… — Saint Javelin (@saintjavelin) June 3, 2025 According to Ukrainian media, planning the bridge operation took months. In the official statement on Telegram, the SBU said: "The operation lasted for several months. SBU agents mined the supports of this illegal construction." It added: "Without inflicting any civilian casualties, the first explosive was activated at 4:44 a.m." © 2000 - 2025 Al Bawaba (
