Canadian Defense Minister McGinty said that Canada has officially joined the EU’s “European Security Action” program.
The Canadian Broadcasting Corporation (CBC) reported the news on Saturday (February 14), citing a statement from McGinty. Canada became the first non-European country to participate in the program.
According to reports, McGinty said in a statement that the plan would strengthen collective security, support the development of key defense capabilities, grant the Canadian defense industry access to the European market, and contribute to the security of Europe and Ukraine.
According to Xinhua News Agency, Canadian Prime Minister Carney announced last December that Canada had completed negotiations to join the "European Security Action" and was expected to formally join in the coming weeks.
The plan allows member states to participate in joint procurement of military equipment and weapons through low-interest loans, and also allows Canadian defense contractors to participate in the projects.
In May last year, the Council of the European Union formally approved the establishment of the "European Security Action" instrument, which provides member states with a total of €150 billion (S$224.6 billion) in financial support for the procurement of security and defense weapons and equipment.
The European Security Operation provides financial support to EU member states in need through long-term loans with preferential interest rates, with 35% of the loans available for the procurement of weapons components produced outside Europe.
The “European Security Action” tool is the mainstay of the EU’s “Ready for 2030” white paper, which proposes to use €800 billion to build “a safe and resilient Europe.”
Source: [Lianhe Zaobao] (https://www.zaobao.com/news/world/story20260216-8525708)