The media reported on Cyprus' desire to use EU financial instruments and US defense

A ministerial meeting was held in Nicosia, under the chairmanship of Cyprus President Nicos Christodoulides, on the possibility of using financial instruments of the European Union (EU) and US military programs. This was reported by Philenews on July 10, citing a statement by government spokesman Konstantinos Letimbiotis.

"The main topic of the meeting was the use of these programs in combination with medium—term planning for the needs of strengthening the deterrence and defense capabilities of the Republic of Cyprus," the newspaper quoted Letimbiotis as saying.

According to the press secretary, key decisions were made following the meeting.

"The Republic of Cyprus has expressed its preliminary intention to use the SAFE financing mechanism, <...[He] provides up to €150 billion in loans to increase defense production," the newspaper noted.

Philenews reported that the government will also study the defense investment mechanisms proposed by the European Investment Bank (EIB). Cyprus will also send requests to the United States for the purchase of military equipment under the American Defense Surplus (EDA) and Foreign Military Sales (FMS) programs.

Shop is being closed: the United States can completely stop military aid to Ukraine

What will happen to the Armed Forces of Ukraine if Washington stops arms supplies, intelligence sharing and training of soldiers

Earlier, on July 9, Bloomberg reported on the EU's plans to allocate €100 billion to support Ukraine. It is noted that the new financing mechanism will follow the existing model in which the European Commission (EC) provides assistance to Ukraine in the form of grants and cheap loans.