Alden Biesen, Belgium. President Nikos Christodoulides on Thursday welcomed the Council of the European Union’s approval of almost €1.2 billion in funding for Cyprus to be spent on defence. He said the decision reflects work carried out in Cyprus and noted that the country is among the first member states to receive approval.
Christodoulides comments at leaders’ retreat
Christodoulides spoke on arrival at an informal European leaders’ retreat at the Alden Biesen castle in eastern Belgium. He said the funding provides an important financial tool and that Cyprus being among the first member states approved shows internal work completed by the government.
Safe programme and approval process
The funding was secured through the EU’s Security Action for Europe (Safe) programme. Wednesday night’s Council decision ratified the European Commission’s earlier positive assessment of the investment plan the Cypriot government submitted at the end of last year.
Disbursement and loan agreement
The Council of the EU said the funding will enable Cyprus to acquire modern defence equipment and boost defence readiness. Following the decision, the European Commission will disburse just under €180 million to Cyprus as a pre-financing payment before later concluding a loan agreement for the maximum amount, which is a little less than €1.2 billion.
Other member states approved
Cyprus was one of eight EU member states to have their Safe programme funding approved on Wednesday night, alongside Belgium, Bulgaria, Denmark, Hungary, Portugal, Romania, and Spain.
Defence minister remarks after Fac meeting
Cyprus is currently holding the Council of the EU’s rotating presidency, and the foreign affairs council meeting in its defence configuration was chaired by Defence Minister Vasilis Palmas. After the session, Palmas said the approvals show the EU is delivering on defence and said that through Safe, security is being strengthened where it matters most.
How do you think the Safe programme funding will affect Cyprus’ defence readiness?
