Greece has been included in the second wave of EU member states securing access to financing from the SAFE tool for defense procurement, following the ECOFIN meeting where Athens' proposal was approved without discussion among the Finance Ministers. This approval coincided with similar endorsements for proposals from Italy, Estonia, Latvia, Lithuania, Poland, Slovakia, and Finland, amounting to a total of 74 billion euros, which represents about half of the 150 billion euro SAF funding package. Following this round of approvals, pending are the proposals from France, Hungary, and the Czech Republic.

Currently, Greece has already been allocated approximately 787.67 million euros from the SAFE fund, with the disbursement of the first tranche anticipated in March. Notably, eight EU member states, including Germany, did not submit any proposals to join the defense investment financing mechanism, highlighting a significant divide in commitment among EU nations towards collective defense spending.

This latest development paves the way for Greece to enhance its military capabilities significantly, underlining the EU's ongoing focus on strengthening defense owing to geopolitical tensions. The approval not only reflects Greece's strategic priorities but also symbolizes broader regional cooperation among participating member states in defense investment initiatives, potentially impacting future military collaborations within the EU framework.