Greece Seeks EU Defence Fund Inclusion to Boost Military Capabilities
Greece plans to apply for the EU's Security Action for Europe fund to access 1.2 billion euros in loans to strengthen its military. Prime Minister Mitsotakis announced the strategy as part of an effort to enhance national defense and modernize the armed forces amid rising regional tensions.
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Greece is poised to make a formal request to join the European Union's Security Action for Europe (SAFE) fund, aiming to secure at least 1.2 billion euros in low-interest loans. Prime Minister Kyriakos Mitsotakis announced the initiative, saying it would bolster national defense and support the Greek arms industry.
The SAFE fund, designed to enhance defense capabilities across Europe, has a total of 150 billion euros. It provides funds for EU members and select countries like Ukraine, predominantly for defense-related projects. Greece is currently allocating approximately 3% of its GDP toward defense spending, a significant figure compared to the EU average.
Mitsotakis also advocated for a unified European anti-missile defense shield and revealed Greece's plan to modernize its military by 2030, a strategic move to maintain parity with Turkey. This defense enhancement strategy underscores Greece's geopolitical priorities in the region.
(With inputs from agencies.)
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