Greece has received its first €118.2 million payment under the European Union’s Security Action for Europe (SAFE) defence instrument, providing new financing for priority defence investments and the modernisation of the country’s military capabilities. The payment, made on 23 July 2026, represents 15% of Greece’s total €787.7 million allocation under SAFE and constitutes the first pre-financing tranche made available to Athens through the programme.

SAFE is a €150 billion EU financial instrument designed to provide long-term loans to Member States for defence investment, with a strong emphasis on joint procurement and strengthening Europe’s defence industrial and technological base. The instrument primarily supports the acquisition of critical defence capabilities, including ammunition, missiles, air and missile defence systems, and ground combat systems produced within the European defence industrial framework. SAFE forms part of the European Commission’s broader ReArm Europe/Readiness 2030 initiative, which aims to mobilise more than €800 billion in defence investment across the European Union.

For Greece, the initial €118.2 million in pre-financing is expected to facilitate the accelerated implementation of priority defence investments, contributing to the modernisation of the Hellenic Armed Forces while strengthening national resilience and supporting wider European defence objectives. The programme is also intended to promote greater interoperability among European armed forces, encourage co-ordinated procurement and deepen cross-border industrial co-operation between EU Member States.

Commenting on the payment, European Commissioner for Defence and Space Andrius Kubilius said: “Today’s first payment to Greece under SAFE is a clear sign that Europe delivers where it matters most: strengthening our common security and supporting our defence industrial base. By helping Greece move forward with key investments, SAFE reinforces not only national preparedness, but also our shared European resilience and strategic responsibility.”

The European Commission confirmed that the payment followed the completion of the required procedural steps. Additional disbursements are expected as Greece meets the agreed implementation milestones associated with its SAFE programme. Unlike grants, SAFE financing consists of loans raised by the European Union on international financial markets. By borrowing collectively and benefiting from the EU’s strong credit standing, the mechanism is designed to provide participating Member States with competitively priced, long-duration financing for major defence investments. The loans remain repayable by the beneficiary Member States.