Canada has gained access to the EU's SAFE credit program
The Council of the European Union has adopted a decision to conclude an agreement with Canada on participation in the SAFE program. The document provides for access by Canadian companies and products of Canadian origin to procurement under the European SAFE program, which funds relevant defense and industrial projects.
“Canada is the first non-European country to participate in the SAFE instrument,” the statement reads.
Vasilis Palmas, the defense minister of Cyprus, the country currently holding the EU Council presidency, noted that Canada is one of the European Union’s closest allies. “Canada’s accession to SAFE underscores the deep trust between us and sets a significant precedent for how the EU can cooperate with key strategic partners to safeguard our collective future,” he said.
As reported, SAFE is an EU financial instrument that supports member states wishing to invest in defense industrial production through joint procurement, focusing on priority opportunities. It funds urgent and large-scale investments in the European Defense Technological and Industrial Base (EDTIB) to increase production capacity, ensure the timely availability of defense products, and address existing capability gaps.
Under the SAFE agreement, Ukraine may also participate in joint procurement. EU accession countries, candidate countries, potential candidates, and countries that have signed security and defense partnership agreements with the EU may also participate in joint procurement and contribute to the aggregate demand.
The SAFE Regulation was adopted in May 2025 as part of “Readiness 2030”—an ambitious defense package designed to provide EU member statesEU member states with financial levers to stimulate a sharp increase in defense investment.
Source: EU Council Press Service.
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