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EU Council Approves Cyprus' Inclusion in SAFE Package

Published February 11, 2026, 17:27
EU Council Approves Cyprus' Inclusion in SAFE Package

The EU Council has approved a significant financial aid package, SAFE, for eight member states, including Cyprus. Cyprus will receive loans totaling €1.181.503.924 to boost its defense production, with initial funding of €177.225.588,60. A second package has also been approved for another eight countries, including Greece, which has requested €787.669.283 with an initial payment of €118.150.392,45. This approval is part of the EU's broader effort to strengthen the security and defense readiness of its member states. Furthermore, the Council authorized the signing of an agreement with Canada, allowing Canadian companies to participate in the SAFE instrument, making Canada the first non-European country to do so. The process will be completed with the approval of the European Parliament and the disbursement of payments by the Commission.