The European Commission has announced the initial distribution of funds under the new financing instrument SAFE (Security Action For Europe), aimed at strengthening the defense capabilities of EU member states. Greece is among the first recipients, with an initial allocation of €788 million in low-interest loans, and potential access to up to €1.2 billion depending on the final investment plans submitted.
SAFE is a strategic tool offering long-term, low-interest loans to facilitate defense investments without immediate strain on national budgets. For Greece, the program comes at a time of heightened geopolitical challenges, providing an opportunity to accelerate military modernization and revitalize the domestic defense industry.
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According to preliminary plans, the funds are expected to support:
- Upgrades to armored vehicles and key defense systems
- Procurement of military transport trucks and logistics equipment
- Development of military storage and infrastructure
- Involvement of Greek defense manufacturers in joint procurement programs
The Greek government is currently preparing its full investment plan, which must be submitted and approved by the end of 2025, in order for the first disbursements to begin in early 2026.
Greece’s participation in SAFE is seen as a key strategic move, reinforcing its deterrence capabilities, expediting long-overdue defense investments, and integrating the country more deeply into Europe’s evolving defense ecosystem.
Source: pagenews.gr