FAMAGUSTA GAZETTE – The Republic of Cyprus on Tuesday officially submitted its application to join the European Union’s Security Action for Europe (SAFE) regulation, a €150 billion defense funding initiative aimed at strengthening the bloc’s military capabilities.
Defense Minister Vasilis Palmas called the development a top priority, emphasizing the importance of upgrading Cyprus’ domestic defense industry. He said the move would contribute to both national security and the country’s gross domestic product.
During a briefing at the Ministry of Defense on Monday, Palmas met with representatives of the Cypriot Defense Industry Ecosystem to outline the SAFE program’s structure and potential benefits.
He also presented the next steps Cyprus will take, including the submission of a detailed implementation plan by Nov. 30. The plan will specify the amount of funding requested, national defense needs and proposed participation in EU-wide programs.