Economy category powered by

Cyprus requests targeted review of its Recovery and Resilience Plan from the Commission

08:15 - 27 June 2024

Economy Reporter

Cyprus has submitted a request for “a targeted review of its recovery and resilience plan," the European Commission has announced.

“The proposed modifications are linked to objective circumstances which impact the feasibility of implementing the measure concerned” the Commission points out in its press release, without providing further details.

The Cypriot recovery and resilience plan amounts to 1.2 billion euro, including 1 billion euro in grants and 200 million euro in loans. The plan includes 282 milestones and objectives, 61 reforms and 75 investments.

To date, the Commission has disbursed more than 21% of the funds allocated to Cyprus under the Recovery and Resilience Facility, i.e. more than 260 million euro, including pre-financing.

(Source: CNA)

News Feed

Read More

The establishment of AMLA, upgraded requirements and compliance challenges for foreign businesses within the EU
Marios Cosma: Cyprus has been and will always be an investment destination
Larnaca 2030 issues open call to the city's business community
Threedium included in Top 500 fastest-growing tech companies in EMEA
Cyprus Integrity Forum suppoting police in fight against corruption
Wizz Air launching Larnaca to Barcelona route from October
Plenary amends constitution and gives right to vote to 17 year olds
Deputy Minister taking part in EU Competitiveness Council in Brussels
Industry Ministry Permanent Secretary discusses competitiveness of industry in Brussels
Average monthly earnings up 5% in Q4 2024