BRUSSELS (ANA-MPA/M. Aroni) – Greece is receiving its first payment of 118.2 million euros under the defence instrument SAFE (Security Action for Europe) on Thursday, according to an announcement by the European Commission.
The amount of 118.3 million euros represents 15% of the total funding of 787.7 million euros approved for Greece. It constitutes pre-financing that will allow Greece to accelerate priority defence investments, strengthen its resilience and modernise its military capabilities in support of common European objectives. The payment follows the completion of all required procedural steps and reflects the EU’s commitment to providing timely and practical support through SAFE. Further payments to Greece will follow as the agreed milestones are achieved and implementation progresses.
European Commissioner for Defence and Space Andrius Kubilius said that the first payment to Greece under SAFE is a clear sign that Europe is delivering to the fullest. In particular, he said that by strengthening common security and supporting the defence industrial base, and by helping Greece move forward with key investments, SAFE strengthens not only national readiness but also common European resilience and strategic responsibility.
SAFE is a 150 billion euro financial instrument that provides loans to member states to strengthen defence. It primarily funds joint procurement of ammunition, missiles, air defence systems and land-based weapons systems produced within the European Union. It is a key pillar of the ReArm Europe/Readiness 2030 plan, which aims to mobilise more than 800 billion euros in defence investments across Europe.
SAFE aims to rapidly and jointly strengthen the defence capabilities of member states, improve the interoperability of European armed forces and reinforce the European defence industrial base through joint procurement and closer cross-border cooperation.
The SAFE instrument is financed through European Union borrowing on international financial markets, enabling the provision of long-term loans on competitive terms by leveraging the EU’s high credit rating. The loans will be repaid by the member states that receive them.
