The initiative, which includes EUR 150 billion (USD 163 billion) in loans, aims to boost Europe's defense capabilities.
Speaking to Polish state news agency PAP, Serafin said that Poland is well-positioned to take advantage of the program, as it is one of the most advanced EU countries in terms of defense investments.
The European Commission unveiled its new defense strategy in a white paper presented on Wednesday.
The plan, initially outlined by Commission head Ursula von der Leyen, details how the bloc intends to strengthen its military capabilities.
The EUR 150 billion in loans will be available for defense projects proposed by EU member states, with priority given to joint procurement initiatives involving at least two countries.
However, Serafin highlighted that for the first year of the program, funding will also be available for projects launched by individual countries rather than multinational collaborations.
This provision is expected to benefit Poland significantly, as the country already has clearly defined defense procurement plans that do not currently include joint purchases with other states.
"This gives time to build up a still-limited culture of joint procurement, particularly in the defense sector," Serafin said.
He added that the loan program offers Poland "a major financial advantage," as the EU's interest rates are considerably lower than what Poland could secure on the open market.
Under the program, only interest payments will be required for the first 10 years, making it an attractive option for countries that rely on external financing for military investments.
Not all EU member states are expected to take advantage of the loans. With an interest rate of 3.3 percent, countries that can access cheaper financing on their own may opt out.
Poland, however, is likely to find the program highly beneficial, according to Serafin.
The loan mechanism is part of a broader legislative package known as SAFE (Strengthening the European Defense Ecosystem), which is included in the white paper.
Serafin was involved in shaping the regulation, as the loans will be backed by the EU budget.
One of the key provisions of the SAFE regulation requires that 65 percent of the loan funds be spent on defense components sourced from within the EU.
Serafin told the PAP news agency that this requirement is designed to support job creation and industrial growth in Europe.
"The important feature of this mechanism is that it includes the defense industries of all EU countries, including firms that cooperate with non-EU partners and use some components and intellectual property from outside the bloc," he said. "This expands procurement opportunities within the EU, benefiting Polish industry as well."
Piotr Serafin. PAP/Wiktor Dąbkowski
The white paper also identifies the Eastern Border Shield project as a critical priority for European defense.
The initiative aims to strengthen the EU’s eastern border, which runs along Poland and the Baltic states.
"There is no doubt within the European Commission that the border with Russia and Belarus is a shared European border," Serafin said.
"That’s why the Eastern Shield project, which involves not just Poland but also countries like Lithuania, Latvia and Estonia, will receive support," he added.
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Source: IAR, PAP