As part of the European Union’s broader strategy to strengthen defense capabilities and military readiness across member states, Greece has received the first disbursement of €118.2 million from the EU’s SAFE financial instrument. This payment represents 15% of Greece’s total allocation of €787.7 million and is being provided as pre-financing, following the completion of all required procedures. Through SAFE, the European Union aims to accelerate defense investments and strengthen joint procurement of military equipment.
SAFE, with a total value of €150 billion, provides long-term loans to member states, with a focus on joint procurement of ammunition, missiles, air defense systems, and ground combat assets produced within the EU.
The instrument forms part of the European Commission’s ReArm Europe/Readiness 2030 plan, which aims to mobilize over €800 billion in defense investment across Europe.
SAFE: What this means for Athens
The pre-financing gives Athens the opportunity to fast-track priority programs and advance the modernization of its military capabilities. At the European level, SAFE seeks to enhance interoperability among armed forces and strengthen the European defense industry through joint procurement and closer cross-border cooperation.
“Today’s first payment to Greece under SAFE is a clear sign that Europe delivers where it matters most,” said Defense and Space Commissioner Andrius Kubilius.
He added that the financial instrument reinforces “both national readiness and collective European resilience.”
SAFE is funded through EU borrowing on international markets, enabling the provision of long-term loans at competitive rates. Repayment will be carried out by the member states receiving the funding, while subsequent disbursements will be made in line with the achievement of agreed implementation milestones.
