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flag EU approves €150 billion fund to boost defense projects amid security concerns.

flag EU leaders have approved a new €150 billion fund called SAFE to loan money for defense projects, aiming to boost Europe's defense industry and address security concerns, particularly regarding potential Russian aggression and uncertainties about future US protection. flag The fund requires at least 65% of a project's value to come from EU, EEA, or Ukrainian companies, with some exceptions. flag It needs final approval from EU ministers on May 27.

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