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SAFE Package Approved by EU Council for Cyprus and Other Member States

Published February 11, 2026, 17:30

The EU Council has approved funding under the SAFE framework for eight member states, including Cyprus, providing loans totaling €1.181.503.924 to boost defense production. Cyprus will receive initial funding of €177.225.588,60. Funding 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. Defense Minister Vasilis Palmas stated that the EU is delivering results in defense through SAFE. This approval follows the positive assessment of member states' National Investment Plans in Defense and paves the way for the issuance of long-term loans to acquire modern defense equipment. The funding will allow countries to strengthen their defense readiness. Furthermore, the Council approved an agreement with Canada for the participation of Canadian companies in public contracts under SAFE, making Canada the first non-European country to join the instrument. The agreement was preliminarily approved in December 2025 and will be provisionally applied after signing, with final approval dependent on the European Parliament. Following the approval of the executive decisions, the European Commission will conclude loan agreements with member states and proceed with the disbursement of pre-financing payments. The SAFE initiative represents a significant step towards strengthening European defense capabilities and promoting cooperation in the field of defense.