President Nicos Christodoulides expressed his “satisfaction” on Wednesday after the European Union approved over €1 billion in defence funding for Cyprus under the SAFE programme.

Speaking at a cabinet meeting at the presidential palace, Christodoulides described the funding as a “major effort to strengthen the deterrent power of the Republic of Cyprus”.

The president also highlighted the link between Cyprus’s defence industry and the SAFE initiative, noting a new approach from the European Investment Bank to include the defence sector in its lending programmes.

Cyprus is set to receive €1.18 billion as part of the EU’s €150 billion SAFE programme, which promotes joint military hardware procurements by at least two member states or allies. The Cypriot government formally notified the EU of its participation in July.

Alongside the EU funds, consultations with the United States concerning Cyprus’ participation in American defence programmes are ongoing.

In early September, Christodoulides confirmed that Cyprus has requested military equipment from the United States, either free or at reduced cost, under the US Excess Defence Articles programme.

“National Guard officers must be sent immediately to the United States so that we can see and evaluate what we have requested and what the Americans are offering,” the president said at the cabinet meeting.