Prime Minister Carney secures Canada’s participation in the European Union’s SAFE initiative

Prime Minister Mark Carney has secured Canada's participation in the European Union's Security Action for Europe (SAFE) initiative, unlocking billions in defence opportunities for Canadian businesses. This participation will expand access to the European market for Canadian defence industries, attract new suppliers for the Canadian Armed Forces, and catalyze private investment in Canada. SAFE, a key component of the EU's Readiness 2030 plan, provides up to $244 billion in loans for large-scale defence projects. Canada's involvement will be facilitated by the new Defence Investment Agency, aiming to streamline processes and enhance industrial capacity. The agreement signifies a significant step in strengthening transatlantic defence readiness and creating high-paying jobs in Canada.