MNI BRIEF: EU's SAFE Cleared To Start Lending Operations

The EU's EUR150bn SAFE lending facility for defence was approved by European Affairs ministers this morning, clearing the way for it to start disbursing loans to member states in coming months. 

"Through SAFE the EU will provide up to EUR150bn that will be disbursed to interested member states on demand and on  the basis of national plans. The disbursements will take the form of competitively priced long-maturity loans, to be repaid by the beneficiary states," the EU said in a press release.