EU countries have already applied for €127B in loans to fund joint defense projects with Ukraine.

The new EU defense loan program, SAFE (Security Assistance Facility for Europe), which offers up to €150B to bolster the bloc’s defense capabilities, has shifted from being unpopular to highly sought after in just a few weeks. So far, 18 EU countries have officially applied for about €127B in loans. The program mainly supports joint purchases of ammunition and missiles for Ukraine, which has motivated more participants.

Poland submitted the largest request, €45B, followed by France with €15-20B, Italy around €15B, Lithuania up to €8.76B, Estonia €3.6B, Bulgaria up to €3.5B, Greece €1.2B, and Spain €1B. In addition, Romania is considering a €10B request, and Belgium has requested €11B. Several other countries, including the Czech Republic, Latvia, Portugal, Croatia, and Hungary, have submitted applications but haven’t disclosed details. Cyprus and Finland are still deciding how much to borrow and plan to announce their decisions soon.

Meanwhile, Austria, Slovenia, and Denmark have yet to make final decisions. Some countries, like Germany, Luxembourg, and Sweden, do not plan to take loans but are interested in joint defense procurement.