Greek Cyprus leader Nikos Christodoulides (R) speaks with Israeli President Isaac Herzog during a meeting in Nicosia, Cyprus, Thursday, Sept. 10, 2026. (AP Photo)
Israeli defense companies are interested in establishing operations in the Greek Cypriot Administration, potentially allowing them to benefit from the European Union’s SAFE defense financing program, the Cyprus Mail reported on Sept. 10.
The issue was among those discussed during Israeli President Isaac Herzog’s visit, during which he held talks with Greek Cypriot leader Nikos Christodoulides in Nicosia.
The Greek Cypriot Administration is eligible for $1.4 billion in financing under the EU’s Security Action for Europe (SAFE) program, designed to support defense investment by member states.
However, establishing a presence in the Greek Cypriot Administration would not automatically give Israeli companies unrestricted access to SAFE-funded procurement.
Contractors must be established and have their executive management in the EU, while the program limits components originating outside the bloc to 35 percent of estimated component costs.
