The Republic of Cyprus has received a further €119.8 million from the Recovery and Resilience Facility. With this latest disbursement, President of the Republic Nikos Christodoulides said in a written statement that the country’s total receipts now amount to €709 million, or 70% of the overall allocation of €1.02 billion.
“With the final disbursement expected in December, total receipts are projected to reach approximately €992 million, representing a very high absorption rate of 97.3% of the total amount,” he noted.
“This development is the result of systematic and intensive work. Close monitoring of timelines, daily coordination between Ministries and Services, and continuous assessment of the implementation progress of every milestone and every project,” the President said.
He stressed that the objective had been clear from the outset: not to lose any time or available EU funding and, above all, to ensure that the resources translate into tangible results for the economy and society.
The Plan was completed with 221 milestones and targets and 61 major reforms in August 2026. Through infrastructure projects worth around €600 million and 40 grant schemes totalling €420 million:
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More than 850 businesses were supported and 300 Research and Innovation projects were funded.
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Around 50,000 homes installed photovoltaics, including 7,000 vulnerable households.
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Approximately 4,300 citizens received a grant for an electric vehicle.
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Around 90,000 premises were supported for connection to high-speed networks.
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4,800 children received tuition fee subsidies for pre-school education.
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750 employers received support for hiring unemployed persons.
“At the same time, projects that remain in the country were completed: the Pancyprian Blood Centre, upgraded hospital infrastructure, photovoltaics and thermal insulation in 405 schools, multi-functional centres for children, two model special education schools, smart water and electricity meters, and the CY ALERT early warning system,” President Nikos Christodoulides said, among other points, explaining that the Plan’s completion was the result of a collective effort.
The President of the Republic warmly thanked all Ministries, Deputy Ministries, Departments and Services, local authorities, social partners and everyone who worked towards its implementation, with special thanks to the Ministry of Finance and the Directorate General for Development for their decisive coordinating role, as well as to the House of Representatives for its contribution in the timely passage of key reforms linked to the Plan’s completion.
“A major European opportunity has been turned into concrete projects, reforms and investments. Through systematic work, close monitoring and consistency in implementation, targets are being converted into tangible results that remain in society and the economy,” Christodoulides concluded.
