Latvia has signed a nearly €3.5 billion defense loan agreement under the EU’s SAFE lending program, becoming the eighth country to join the scheme.
EU Defense Commissioner Andrius Kubilius joined Latvian Prime Minister Andris Kulbergs, Defense Minister Raivis Melnis and Finance Minister Maris Kučinskis in Riga on Saturday for the signing ceremony.
tub DESCRIBED Latvia as a “leading competitor in European defense coordination”, highlighting its rapid development of drone and counter-drone capabilities as “an example for other member states” and a key contribution to European security.
Latvia will use the funds to accelerate investments in unmanned aerial systems, guided missiles, anti-drone technologies and broader national defense industrial capacity, with a strong emphasis on procurement speed and regional deterrence on the eastern flank.
Russia’s war against Ukraine has also had a direct impact on Latvia. Drones diverted from their intended course by the Russian blockade have entered the airspace of Latvia and its Baltic neighbors on several occasions. Riga recently DESIGNATED would deploy drone surveillance units on its eastern border to counter the threat.
The deal is part of the EU’s €150 billion Security Action for Europe (SAFE) program. Latvia is the eighth country to join the defense financing scheme, following Poland, Lithuania, Croatia, Romania, Belgium, Cyprus and France.
Kulberg said Latvia’s security is his government’s “first priority”, stressing that the SAFE instrument provides “access to the necessary funding” to ensure national and regional security.
“This money should serve the development of Latvian industry and the interests of our economy,” Kulbergs added.
(aw)
