Czech Republic may tap €2 billion from EU SAFE fund

The Czech Republic could secure more than €2 billion (CZK 50.1 billion) from the EU’s new Safety Fund (SAFE), the European Commission said on Tuesday. Nineteen member states have applied for loans to fund military equipment purchases, with €150 billion (CZK 3.7 trillion) earmarked for the program. Czech Prime Minister Petr Fiala announced in July that Prague was seeking a CZK 52 billion loan to acquire German Leopard 2A8 tanks. Defence ministry spokesperson Karel Čapek said that the tanks would be purchased even without the loan, since funding has already been secured from the state budget, but added that SAFE could allow for more favourable financing.