The European Council has agreed to give Cyprus a lot of money. These are loans for defence. The money comes from a new plan called the Security Action for Europe (Safe). This will help Cyprus make more defence equipment. The decision was made on Wednesday. It is an important step for the security of the whole European Union.
Cyprus will receive €1.181 billion in defence loans. This includes a first payment of over €177 million. This money will help Cyprus invest in its defence industry now. The Safe fund is part of the EU's defence plan. It will get €150 billion later. This is expected in May 2025. Other countries will also get loans soon, on February 17.
The European Commission looked at defence plans from many countries. They liked the plans from Cyprus and others. The main goal is to make the EU safer in important areas. The EU wants to help countries build better defence industries. This will make the EU stronger and more independent.
Vasilis Palmas is the Defence Minister of Cyprus. He said, "The EU is not just talking about defence – we are doing it." He also said the Safe initiative is making security better where it is needed. The plan is turning ideas into real defence improvements.
Eight countries are getting money in this first group. Denmark got the biggest possible loan. Spain got the smallest. Cyprus is in the middle. Greece will get the smallest loan in the next group. Every country has different defence needs.
This investment will help Cyprus make better defence products. It also helps the EU build a stronger defence together. This is not just about one country. It is about creating a common defence system for Europe. The EU is taking action to protect its member countries and people. This plan will help shape the EU's defence in the future.