EU Pushes Massive New Weapons Buying Spree With Ukraine
The European Union is making €21.3 billion, or roughly $23.7 billion, in defense loans available to member states while urging them to purchase weapons alongside Ukraine as Brussels expands its military buildup.
Francis Kapper · Oct 30, 2026 · 3 min read
The European Union is making €21.3 billion, or roughly $23.7 billion, in defense loans available to member states while urging them to purchase weapons alongside Ukraine as Brussels expands its military buildup.
The European Commission opened the second funding round Thursday under its Security Action for Europe (SAFE) initiative, inviting all 27 EU countries to request loans, including those that declined to join its initial round, according to the Commission. Brussels wants participating governments to prioritize air defenses, drones, ammunition and missiles for their own armed forces and Ukraine’s military, the commission said.
The latest allocation is not a new €21.3 billion commitment to Kyiv. It represents unused borrowing capacity within a €150 billion defense loan program adopted in May 2025, after some governments requested less funding than originally anticipated, per the European Commission.
The loans go to EU member states, which must repay the money, rather than directly to Ukraine. Ukrainian firms can nevertheless supply equipment under eligible procurement projects, according to the EU Council.
The EU finances the program by issuing bonds and providing long-term loans to participating governments. Those governments remain responsible for repayment, per the council.
The Commission is encouraging governments to include cooperative purchases with Ukraine in their defense spending plans, although it has not made Ukrainian participation mandatory, according to its Thursday announcement.
Governments retain responsibility for borrowing while Brussels wants the remaining funds to benefit both their domestic defense industries and Ukraine, European Commission spokesman Thomas Regnier explained during a Thursday briefing, according to the European Commission.
“We have obviously associated Ukraine from day one,” Regnier said, adding that the commission was encouraging countries to pursue joint projects as fighting continued, according to the commission briefing.
Nineteen member states joined the original SAFE program, requesting more than €130 billion in financing, according to the European Commission.