Cyprus Applies for Loans from 'SAFE' Defense Fund

Eighteen EU member states, including Cyprus, have applied to participate in programs under the 'SAFE' defense instrument, totaling at least €127 billion.

According to a statement by the European Commission, member states have until July 31 to express their interest and apply for loans from the SAFE instrument ('Security of Action for Europe'), which can grant up to €150 billion to member states to increase their national military spending.

They will then have another four months to analyze in detail the type of projects, their partners, and their budget. The deadline for formal applications is November 30, 2025.

Defense and Space Commissioner Andrius Kubilius stated that the interest in SAFE demonstrates the EU's unity and ambition in security and defense.

SAFE is part of a broader program aimed at mobilizing up to €800 billion to rearm the European continent.

Source: CNA