Bulgaria Secures €490 Million EU SAFE Allocation to Support Defence Industry
Bulgaria is set to receive €490 million under the European Union’s Security Action for Europe (SAFE) initiative to fund defence industry investments focused on joint procurement.
Bulgaria has been allocated €490 million from the European Union’s Security Action for Europe (SAFE) instrument to bolster its defence industrial base, according to EU and Bulgarian sources. The funding is designated for investment in national defence industry projects and joint public procurement initiatives with other member states.
The SAFE mechanism, established under the EU’s broader Readiness 2030 agenda, allows member states to access competitively priced long-term loans for defence investments once their national defence investment plans are approved by the European Commission and the Council. The overall SAFE programme can mobilise up to €150 billion in loans aimed at closing capability gaps and reinforcing Europe’s defence industrial capacity.
Bulgaria’s allocation follows endorsement of its national plan alongside seven other EU member states, including Belgium, Denmark, Spain, Croatia, Cyprus, Portugal and Romania. Collectively, these countries are eligible to draw on an initial tranche of around €38 billion once loan agreements are concluded.
Under SAFE, Bulgaria could ultimately access more than €3.26 billion in financing for defence priorities, subject to formal loan agreements and approval by the Bulgarian Parliament. Government officials have indicated that parliamentary ratification is a prerequisite before any loan contract can be finalised.
The instrument is designed to support the procurement of priority military equipment, technologies and collaborative projects, with a focus on ensuring interoperability and strengthening the EU’s collective defence industrial base.
