Italy Plans to Receive €14.9 Billion from the EU's SAFE Program to Finance Defense

Italy is requesting €14.9 billion in financing from the European Union's SAFE (Security Action for Europe) program by the end of the year. This was announced by the country's Foreign Minister Antonio Tajani during a parliamentary address.

SAFE is a joint lending program of the European Union, created with the support of the EU budget. Its goal is to strengthen the defense capabilities of member states and support the achievement of new defense spending targets set by NATO.

This decision represents a shift in the Italian government's previous position. In May of this year, the authorities stated that against the backdrop of rising energy prices, they might not be able to both increase defense spending and fulfill commitments undertaken through the SAFE program.

Since then, Italy received permission from the European Union to use part of the national escape clause mechanism, which allows temporary deviation from EU budgetary rules and serves to finance additional expenditures, including energy support.

Economy Minister Giancarlo Giorgetti announced on Monday that the government will address parliament next week to approve the use of this mechanism. If activated, Italy will be able to register a higher budget deficit until 2028.

According to the Italian government's explanation, resources obtained from the SAFE program will primarily be used to finance defense projects already included in the state budget, rather than for additional growth in military spending.