On 23 July, Greece received its first payment of €118.2 million under the Security Action for Europe (SAFE) defence instrument, representing 15% of its total allocation of €787.7 million.
SAFE is a €150 billion financial instrument providing loans to Member States. It primarily funds joint procurement of ammunition, missiles, air defence, and ground combat systems produced within the EU. It is part of the European Commission’s ReArm Europe/Readiness 2030 plan, which aims to unlock over €800 billion in defence investment across the European Union.
The pre-financing will allow Greece to fast-track priority defence investments, enhance its resilience, and modernise its military capabilities in support of common European objectives. SAFE is intended to facilitate fast, co-ordinated action, strengthen the interoperability of European armed forces, and reinforce Europe’s defence industrial base through joint procurement and deeper cross-border co-operation.
Defence and Space Commissioner Andrius Kubilius said: “Today’s first payment to Greece under SAFE is a clear sign that Europe delivers where it matters most: strengthening our common security and supporting our defence industrial base. By helping Greece move forward with key investments, SAFE reinforces not only national preparedness, but also our shared European resilience and strategic responsibility.”
This payment follows the completion of all required procedural steps and reflects the EU’s commitment to providing timely, practical support through SAFE. Further payments will follow, as agreed milestones and implementation are met.
The SAFE instrument is financed by EU borrowing on the financial markets. This enables competitively priced and attractively structured long-duration loans to requesting member states. The terms of the SAFE loans benefit from the EU’s strong credit rating. All SAFE loans will be repaid by the beneficiary member states.
