India, Nov. 30 -- Portugal has applied for 5.8 billion euros ($6.73 billion) in low-cost loans under a new EU defence programme to boost its armed forces capabilities, Cabinet Minister Antonio Leitao Amaro said on Friday.

The programme, called Security Action For Europe (SAFE), is an EU initiative worth 150 billion euros, which boosts defence capabilities, closes critical gaps, and procures equipment as Europe faces potential threats from Russia. It offers long-maturity loans of up to 45 years with a 10-year grace period for repayments.

"This is a very important effort to empower our armed forces so that they can defend our territory, our maritime space, and Europe as a whole," Leitao Amaro told reporters. He gave no details on what equ...