A final agreement that allows Canada into the European Union’s €150-billion ($244-billion Cdn) Security Action for Europe (SAFE) program has been concluded, but Defence Minister David McGuinty is unable to say how much it will cost the federal treasury.

The deal marks the first time a country outside of Europe will formally participate in the joint military procurement initiative.

There have been months of detailed negotiations, which began after Prime Minister Mark Carney signed an overarching defence-security partnership with the EU last June.

The SAFE program allows partner countries to access low-interest loans for the joint procurement of military gear and weapons. It also allows Canadian companies to bid on those joint projects.

Analysis Canada at the defence crossroads: The ch

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