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flag EU approves €150 billion loan program to boost defense spending amid security concerns.

flag The European Union has approved a €150 billion ($170 billion) loan program, known as the Security Action for Europe (SAFE), to boost defense spending within the bloc. flag This initiative aims to enhance the EU's strategic autonomy and defense capabilities amid concerns over Russian aggression and the reliability of US security commitments. flag The program allows up to 35% of the value of weapons to be sourced from manufacturers outside the EU. flag The approval comes as part of a broader package that could unlock up to €800 billion in defense spending.

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