Greece's security council, known as KYSEA, is poised to grant final approval this Thursday for acquiring a multi-layer air defense system from Israel valued at as much as €3.5 billion along with various drone types, according to two informed sources.

KYSEA had granted preliminary approval earlier in the year and is now expected to clear the procurement contracts, an official familiar with the arrangement told Reuters.

The country aims to establish a comprehensive anti-ballistic, anti-aircraft and anti-drone network dubbed Achilles Shield. Core components will include Israeli radars and missiles supplied by Rafael and Israel Aerospace Industries.

The Greek government has outlined plans to invest roughly €28 billion through 2036 in armed forces upgrades, encompassing up to 40 new F-35 jets from the United States as well as frigates from France and Italy.

Greece allocates nearly 3.5 percent of its gross domestic product to defense spending, exceeding many other NATO members, largely because of longstanding tensions with Turkey.

Strong economic and diplomatic relations between Greece and Israel include an air training facility on Greek soil, annual joint military exercises and collaboration on anti-drone technologies and cybersecurity.

Greece previously approved purchase of 36 Israeli artillery systems

Last year Greece cleared the acquisition of 36 Israeli-made rocket artillery systems for approximately €650 million.

KYSEA is also set to approve drone purchases from both the United States and Israel, the official noted.

A second official verified details regarding the Israeli defense system and the drone acquisitions.

Greece currently relies on US Patriot batteries and older Russian S-300 systems for airspace protection.

The Defense Ministry declined to comment when contacted by The Jerusalem Post.

Yonah Jeremy Bob contributed to this report.