Nicosia: Cyprus President Nikos Christodoulides emphasized the significance of the General Affairs Council’s approval of the SAFE Regulation, urging Cyprus to maximize its potential. He highlighted the importance of aligning this funding opportunity with the recent U.S. decision to allow Cyprus access to American military equipment.
According to Cyprus News Agency, President Christodoulides, during the opening of Wednesday’s Cabinet meeting at the Presidential Palace, described the Council’s decision as a pivotal step in fortifying the EU’s defense capabilities and advancing its strategic autonomy goals.
The President noted that the SAFE Regulation serves as a substantial financial tool, valued at £150 billion, exclusively available to EU member states-a prospect Cyprus must harness. He also mentioned the European Investment Bank’s expanded focus, which now includes financing in defense, infrastructure, and other essential sectors.
Christodoulides stressed the importance of exploring these new opportunities alongside the recent U.S. decision that enables Cyprus to procure American military equipment.
‘A meeting was held with the Ministries of Foreign Affairs, Defence, and Justice to assess some of our current needs. I want us to discuss these and examine how they connect with the fact that we have several Cypriot companies already participating in EU programmes and cooperating with other Ministries of Defence,’ he stated.
The President also emphasized that Cyprus must adapt the SAFE mechanism to meet its unique requirements, particularly in infrastructure development. This involves upgrading the “Andreas Papandreou” Air Base and the Naval Base, and enhancing key defense areas to bolster the Republic’s deterrent capabilities.
He highlighted the need for a coordinated effort-one in which he will personally engage-to advance plans now that the General Affairs Council has formally adopted the relevant framework.