EC Approves €74 Billion Funding for 8 States via SAFE

The European Commission has given the green light to fund eight member states, including Greece, through the Security of Action for Europe (SAFE) initiative. The decision concerns the approval of the defense plans of these countries.

Specifically, the Commission proposed to the Council the approval of financial support to Estonia, Greece, Italy, Latvia, Lithuania, Poland, Slovakia, and Finland. This move paves the way for the release of long-term, low-cost loans.

The funding levels, provisionally determined in September, amount to approximately €74 billion for the group of eight member states. The first payments are expected to begin in March 2026.

The SAFE regulation, issued on May 27, 2025, aims to strengthen the defense capabilities of EU member states through financial levers. The Commission expects SAFE to allow member states to increase their defense investments and ensure interoperability, predictability, and cost reduction.

Ukraine and the EFTA/EEA countries will also be able to participate in joint procurement.

Source: ot.gr