The European Commission has disbursed €76 million to Cyprus in its fourth payment under the Recovery and Resilience Facility (RRF).
The funds will be used to expand online government services, introduce a transparent beneficial ownership registry, and digitalise healthcare services.
Releasing the funds, the EC said this payment covers 17 milestones and six targets.
The disbursement is focused on expanding online government services, improving corporate trust through the introduction of a transparent beneficial ownership registry and digitalising health care services notably in cross-border contexts. The reforms and investments will also simplify the issuance and transfer of title deeds as well as introduce digital solutions, to ease business transactions.
The total funds paid out to Cyprus under the RRF now stand at €568 million, which is 46.5% of the total allocation.
Cyprus's overall recovery and resilience plan is financed by €1.22 billion in grants and loans.
Cyprus' disbursement is part of a total disbursement of €42.8 billion to five Member States - Italy, Portugal, Cyprus, Malta, and Spain - under the RRF.
Spain received €23.1 billion, which will support measures to boost renewable energy, cut red tape, and improve justice efficiency. The funds will also invest in short-distance rail travel and strengthen cybersecurity resilience.
Italy received €18.3 billion, which will finance projects to increase competition and transparency, improve railway accessibility for passengers with disabilities, and enhance renewable energy distribution capacity.
Portugal received €1.34 billion, which will support reforms and investments in healthcare, housing, and forest fire management.
Malta received €48.7 million, which will increase access to free public transport, promote sustainable mobility, and upgrade education infrastructure.
