V. Palmas: Goal to Fully Utilize €1.1 Billion from SAFE Program

The Minister of Defense, Vasilis Palmas, stated that the goal is to exhaust the amount of €1.1 billion from the SAFE program over a five-year period. The funding will boost the Ministry's budget for armament programs and support Cypriot defense industries.

Mr. Palmas mentioned that a visit by a Cypriot delegation to the USA is expected to inspect armament programs, including transport aircraft and search and rescue helicopters. Cyprus' list of needs will be submitted to the European Commission by November 30.

The Minister emphasized that the use of funds will be in consultation with the Ministry of Finance, in order to limit the increase in public debt. Priority is given to the development of the Cypriot defense industry, with potential collaborations with other European companies.

Source: KYΠΕ