EU countries agree on €150 billion defence fund

Brussels [Belgium], May 20: European Union countries on Monday in principle agreed on the proposals for a €150 billion fund aimed at boosting Europe's defence, known as Security Action for Europe (SAFE).
The plan, proposed by the European Commission in March, will be financed through joint borrowing and give loans to EU members and certain other countries such as Ukraine for projects that bolster their defences and boost Europe's arms industry.
Source: Emirates News Agency