19 EU member states have requested 150 billion in defense loans

At the end of July, the Commission already announced that 18 member states, including Belgium, had submitted a request to benefit from such a loan. Meanwhile, that number has risen to 19, after Denmark also put itself forward, which have applied for the full 150 billion euros. In principle, member states can still submit applications until the end of November, but it has become clear that the other eight member states are not interested in the loan.

On September 9, the 19 countries will find out how much money they will be able to borrow, and by November 30, they must submit their national plans detailing the purchases they want to make and the countries and companies they wish to collaborate with. The Commission will then analyze those plans and aims to release a first tranche of the money, likely 15 percent of the total amount, this year so that member states can start their projects.

Von der Leyen added during the press conference that many member states have indicated that they will also use the money to support the Ukrainian arms industry, which she calls a “real European success.”