EU Council approves more than €1 billion in loans for Cyprus’ defence

Financial assistance of more than €1.181 billion in defence loans was granted to Cyprus by the European Council under the Security Action for Europe (Safe) fund on Wednesday.

“Today’s decisions show that the EU is not only talking about defence – we are delivering. Through Safe, we are strengthening our security where it matters the most,” Defence Minister Vasilis Palmas said.

The loans are aimed at supporting the Republic’s investments into defence industrial production with...