The European Union and Canada signed an agreement that will allow Canada to participate in the $240 billion (€150 billion) loans-for-weapons SAFE initiative.
The agreement was signed on Saturday, February 14, 2026 in Germany, at the occasion of the Munich Security Conference, by European Union Defence Commissioner Andrius Kubilius and David McGuinty, Minister of National Defence.
Canada is the first non-EU country to join the European Union’s SAFE initiative.
In December 2025, Prime Minster Mark Carney secured Canada’s participation in the EU’s SAFE program. At that time, PM Carney said, “Canada’s participation in SAFE will fill key capability gaps, expand markets for Canadian suppliers, and attract European defence investment into Canada.”
In December 2025, Minister McGuinty said, “SAFE is a force multiplier for Canada. Our participation in SAFE unlocks unprecedented opportunities for Canadian manufacturers to build what our Allies need and what our Forces can rely on. This partnership accelerates our own rearmament while showcasing the world-class capabilities of Canadian workers, engineers, and innovators.”
Sources:
Press Release: Council for the European Union: SAFE: Council clears path for financial assistance to eight member states and concluding the Canada agreement https://www.consilium.europa.eu/en/press/press-releases/2026/02/11/safe-council-clears-path-for-financial-assistance-to-eight-member-states-and-concluding-the-canada-agreement/
Benjamin Lopez Steven, CBC: Canada has officially joined the EU’s loans-for-weapons program https://www.cbc.ca/news/politics/canada-eu-safe-agreement-defence-loans-weapons-9.7090635
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