Italy has asked to access the European Union's new arms-buying fund to help finance its rising defence commitments, three officials told Reuters on Wednesday. Rome plans to raise defence spending from 2 per cent to 3.5 per cent of GDP, and allocate an additional 1.5 per cent to broader security-related measures. The move would align Italy with a proposed 5 per cent overall target endorsed by US President Donald Trump and discussed among NATO allies. The request falls under the EU's Security Action for Europe (SAFE) scheme, which will provide up to €150 billion in loans over the next decade to support joint defence procurement. According to one official, Italy is seeking up to €15 billion from the fund to finance military investments already planned through 2030. Rome expects the scheme to offer more favourable borrowing terms than issuing sovereign debt on the market. Attribution: Reuters Subediting: M. S. Salama
