Greece to Seek €1.2 Billion in EU Defense Loans Under SAFE Initiative

Greece will formally apply to join the European Union’s new SAFE (Support for Ammunition and Defense Equipment) financing mechanism, aiming to secure at least €1.2 billion in low-interest loans to strengthen national defense and boost its domestic defense industry, Prime Minister Kyriakos Mitsotakis announced on Monday.
SAFE marks the first pillar of the EU’s broader €800 billion ReArm initiative, designed to enhance the bloc’s collective defense posture amid escalating geopolitical tensions. The funding is intended to support member states in modernizing their armed forces and expanding strategic capabilities.
“Defense and the security of the homeland remain a national priority,” said Mitsotakis. “Our government is committed to reinforcing the deterrent power and operational readiness of the Armed Forces through careful planning and strategic foresight.”
The Prime Minister confirmed that Greece will leverage all available EU financial tools to support long-term defense investments. The proposed funding will contribute to the country’s 12-year armaments program, which focuses on upgrading military hardware and expanding local defense manufacturing.
Mitsotakis also reiterated Greece’s support for a broader European defense strategy, including the establishment of a European investment fund dedicated to strategic infrastructure and the development of a unified missile defense system.