Cyprus Asset Management Company KEDIPES proceeded with the payment of an amount of €50m in cash for the third quarter of 2025, as part of the repayment of the state aid received by the former Cyprus Cooperative Bank.
KEDIPES aims to recover the state support of € 3.6 billion for the benefit of the Cypriot taxpayer through the management of the assets under management, while maintaining full compliance with the provisions of the Commitment List of the European Commission.
According to a relevant announcement, in addition, KEDIPES, as the implementing body of the ‘Rent vs. Installment’ Scheme, has contributed to date €30 million in the form of expenditure for the inclusion of 254 residences in the Scheme.
According to a relevant announcement by KEDIPES, since 2018, when KEDIPES' operations began, the total amount of state aid repayment amounts to €1.66b as follows:
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Repayment of state aid in cash €1.62b.
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Expenditure for implementing the 'Rent-to-Installment' Scheme €30 million.
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Other repayments (such as Estia plan installments) €10 million.
KEDIPES continues to maintain a cash reserve of €90 million in cash for financing purposes of the ‘Rent versus Installment’ Plan.
(Source: InBusinessNews)
