Greece will officially submit its application today, Tuesday, July 29, 2025, to join the European SAFE mechanism (Security Action for Europe), a newly established EU financial tool under the ReARM Europe initiative.
The country is seeking at least €1.2 billion in low-interest loans, aiming to strengthen its national defense and provide significant support to its domestic defense industry. The proposal prioritizes the upgrade and procurement of military vehicles, focusing on projects that can be implemented quickly and produced within Greece.
By joining SAFE, Greece will enhance its Long-Term Defense Procurement Program, increasing its projected budget from €28.8 billion to €30 billion for the 2025–2036 period. The additional resources are expected to boost the deterrent capabilities of the Hellenic Armed Forces, advance technological and industrial modernization in the defense sector, and generate new jobs while adding domestic value.
The Greek government played an active role in shaping the SAFE regulation, securing key provisions—most notably, a requirement for unanimous approval by EU member states before any third-country participation is allowed. This clause is seen as a strategic safeguard for national interests. Prime Minister Kyriakos Mitsotakis had previously announced Greece’s intention to request at least €1.2 billion in funding, with particular emphasis on Army mobility projects, such as upgrading M-113 armored vehicles and acquiring new general-purpose military trucks.
Greece’s move comes in response to strict EU deadlines. SAFE applications must be submitted by the end of July in order to qualify for transformation into joint industrial programs by November 2025. The mechanism is set to run through December 31, 2030. Given the complexity and long lead times of defense procurement, the process is being treated as a priority.
The SAFE mechanism offers up to €150 billion in total loans with a 40-year repayment horizon and is designed to prioritize projects with strong participation from the European defense industry. Greece is targeting mature, high-readiness projects that can be carried out using existing domestic facilities and joint ventures with other European defense manufacturers.
According to government sources, mobility-focused programs—including armored and support vehicles—that were originally scheduled for the later stages of the defense plan are now being accelerated thanks to the SAFE funding opportunity. The M-113 upgrade is budgeted at €600 million, while the procurement of new trucks and utility vehicles is expected to reach €400 million.
