Nicosia: The Defence Ministry of Cyprus plans to fully utilize £1.1 billion from the SAFE program over a five-year span, Defence Minister Vasilis Palmas announced on Wednesday.
According to Cyprus News Agency, the European Commission approved the allocation of £1,181,503,924 from the £150 billion SAFE fund for Cyprus during a session of the College of Commissioners in Strasbourg. Palmas stated that this funding will be incorporated into the Ministry’s budget, enhancing capabilities for equipment programs and bolstering Cypriot defence industries.
Palmas addressed the timing of a special Cypriot mission to the US to inspect equipment programs, emphasizing that it is a technical matter requiring synchronization with the US Army. The mission will evaluate transport aircraft and search and rescue helicopters, among other equipment items, to determine their suitability for the National Guard.
Regarding the SAFE program’s approval of over £1 billion, Palmas explained that Cyprus must submit a list of needs and interests to the European Commission by November 30. This will allow for a final assessment to ensure compliance with the SAFE regulation. Palmas noted that the loan will impact the public debt of each EU member state.
Palmas mentioned that while there is a list of priorities for the expenditure, the Ministry remains flexible to adapt to changing conditions. The plan is to exhaust the allocated amount over five years, contributing to the Ministry’s budget for annual equipment programs.
Discussing collaborations with other countries, Palmas highlighted the priority of boosting the Cypriot defence industry. He emphasized the potential for synergies with other EU member states’ defence industries and the role of Cypriot companies in fulfilling equipment program requirements.
In other news, Palmas announced the appointment of Lieutenant General Emmanouil Theodorou as the new Chief of the General Staff of the National Guard, succeeding Lieutenant General Georgios Tsitsikostas. The new Chief’s term will run from October 9, 2025, to October 8, 2027. Palmas praised the outgoing Chief for his cooperation and highlighted the new policy of appointing an active Lieutenant General, a practice adopted by the Greek Ministry of National Defence.