site.btaCabinet Accelerates Defence Funding Under SAFE Instrument

The Council of Ministers adopted a decision to approve two projects under the Security Actions for Europe (SAFE) instrument, the Government's press service announced on Wednesday. The projects include a loan agreement between the European Union and Bulgaria in the amount of EUR 3,261,700,000 and operational arrangements between the European Commission and Bulgaria. The loan will be at favourable interest rates, with a grace period of up to 10 years on the principal and a repayment period of up to 45 years.

The Government's decision allows for the signing of agreements with the European Commission, subject to subsequent ratification by the National Assembly, and the implementation of nine key projects included in the Bulgaria’s Armed Forces Development Plan, subject to financing under SAFE. The projects are part of the 2032 Defence Investment Programm.

This will help build and develop the defence capabilities necessary to guarantee national and allied security in the context of the country's participation in the NATO collective defence system and the EU Common Security and Defence Policy,  the Cabinet's press service stated. They added that the funds necessary for the implementation of projects under the SAFE instrument are provided for in the budget of the Ministry of Defence within the framework of defence expenditures for the respective year.