The European Commission has approved the release of €150 billion under the “Action for Security in Europe” initiative, part of the broader “Rearmament of Europe / Readiness 2030” program. The move is designed to help member states meet urgent defense needs and pursue joint procurement of military equipment, with the total pool of resources projected to reach as much as €800 billion.
Greece is set to receive a preliminary allocation of €788 million through SAFE, the EU’s newly created financing mechanism that offers low-interest loans for defense spending.
The Greek government intends to combine these funds with the fiscal escape clause, aiming to raise around €1.2 billion in total. According to officials, the money will be directed toward programs that include air defense systems, surface vessels, support vehicles, missile artillery, and projects to strengthen the country’s defense industry and military mobility.
The exact amount to be allocated to Greece has not yet been finalized. In October, the Commission will present its roadmap to the European Council, with member states expected to submit their national investment plans by November. Following assessment, the first disbursements are scheduled for the first quarter of 2026, with SAFE loans carrying a maturity of 40 years.
A total of 19 member states have so far applied to take part in the mechanism, with Poland, Romania, and Hungary requesting the largest sums. Germany, Denmark, and the Netherlands have chosen not to participate.
