Shmyhal and European Commissioner for Defense discuss cooperation in defense industry
Ukrainian Defense Minister Denys Shmyhal discussed with European Commissioner for Defense and Space Andrius Kubilius the stages of implementation of the SAFE financial program, which was adopted by the EU Council of Ministers and provides for the attraction of up to EUR 150 billion in private and public investment.
"We discussed the stages of implementation of the SAFE financial program. Nineteen countries have already joined the initiative. We count on effective cooperation, because this mechanism will contribute to the development of the Ukrainian defense industry," Shmyhal wrote following the meeting in Kyiv with the European Commissioner, which he called meaningful.
Shmyhal noted that in a conversation with Kubilius, he emphasized that one of the main priorities, “which requires additional funding, is the production of drones: FPV drones, interceptor drones and long-range UAVs,” and expressed gratitude to the European Commission for the creation of the Drone Alliance.
"A separate topic is stable budget support for Ukraine. I am grateful to the EU member states for financial assistance and sanctions against the aggressor," Shmyhal noted.
The EU General Affairs Council adopted the Security Action for Europe (SAFE) programme, which provides for the attraction of up to EUR 150 billion in private and public investment in the development of the European defence industry, and also opens up new investment opportunities for Ukraine.
SAFE is a new EU financial instrument that will support those member states that wish to invest in defence industrial production through common procurement, focusing on priority capabilities.
SAFE will finance urgent and large-scale investments in the European defence technological and industrial base (EDTIB), the EU said on its website on Monday.
It is reported that the aim is to boost production capacity, making sure defence equipment is available when needed, and to address existing capability gaps - ultimately strengthening the EU’s overall defence readiness. Furthermore, SAFE will allow the EU to further support Ukraine by associating its defence industry to the instrument from the start.
As earlier reported, on September 10, the European Union announced the creation of a Drone Alliance with Ukraine, which will be financed by a EUR 6 billion loan from ERA.