Cypriot entities to receive €15m funding to participate in new European Defence Fund projects

07:48 - 05 May 2025

Companies Reporter

Thirteen Cypriot entities have been selected to participate in the new projects of the European Defence Fund programme and will receive a total funding of around €15 million from the European Commission, the Ministry of Defence has announced.

In a press release, it says that the European Commission announced on 30 April 2024 the results of the evaluation of the proposals submitted within the framework of the European Defence Fund (EDF) EDF2024 work programme. The Fund will finance a total of 62 project proposals with a total budget of over €900 million.

"A very important success for the domestic Research and Innovation ecosystem, in the field of Defence and Security, is the participation of Cypriot small and medium-sized enterprises and research organisations in 19 project proposals out of 62," it says.

In total, the announcement adds, 13 different Cypriot entities have succeeded in participating in the new EDF2024 projects, which will receive a total funding from the European Commission of approximately €15 million. In addition, the Ministry of Defence will allocated from its budget around €1 million to co-finance the successful development proposals.

The Ministry of Defence congratulated the businesses and institutions for their success, noting its commitment to continuously support the domestic ecosystem.

It said that it will continue to support their efforts for further development and evolution in the fields of research and innovation.

(Source: CNA)

Cypriot entities to receive €15m funding to participate in new European Defence Fund projects

News Feed

Read More