Latvia has signed a nearly €3.5 billion ($4 billion) defense loan agreement under the EU’s SAFE lending programme, becoming the eighth country to join the scheme.
EU Defence Commissioner Andrius Kubilius joined Latvian Prime Minister Andris Kulbergs, Defence Minister Raivis Melnis and Finance Minister Māris Kučinskis in Riga on Saturday for the signing ceremony.
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Kubilius described Latvia as a “front-runner in European defence 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 investment in unmanned aerial systems, guided missiles, anti-drone technologies and wider national defence 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 Russian jamming have entered the airspace of Latvia and its Baltic neighbours on several occasions. Riga recently announced it would deploy interceptor drone units to its eastern border to counter the threat.
The agreement is part of the EU’s €150 billion ($172 billion) Security Action for Europe (SAFE) programme. Latvia is the eighth country to join the defence financing scheme, after Poland, Lithuania, Croatia, Romania, Belgium, Cyprus and France.
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