Companies, NGOs and organisations to put money and services into KtiZO

The Interior Ministry is joining forces with local companies, private organisations and NGOs to sponsor the KtiZO scheme for individuals who need to relocate to new housing.

A total of €500m has been offered up so far by the private sector, with more to come as according to Interior Minister Constantinos Ioannou, a number of other organisations and companies have committed to contribute. Ioannou is scheduled to officially announce the news later on Wednesday.

The funding will go towards demolishing and replacing scores of deteriorating refugee buildings.

Dubbed the most drastic intervention in state housing of the past 50 years, the scheme aims to address multiple challenges and improve living conditions in refugee estates, offering renovation where possible and constructing new buildings when necessary.

Ioannou is expected to announce the establishment of a common support network for the KtiZO scheme. The donated money will be deposited in a special account and be allocated, in a targeted way and based on specific criteria, to the scheme’s beneficiaries, offering them support during their temporary stay elsewhere until their flats – which are being renovated or built with state aid – are ready.

The news was reported by InBusinessNews, whose sources said that non-profit organisation TechIsland has contributed €400,000 and the Holy Archbishopric over €100,000. The SupportCy network has volunteered its members’ services and products for beneficiaries in need of assistance. Bank of Cyprus and the Housing Finance Corporation are also said to be contributing significantly, by offering financing to beneficiaries wishing to join the KtiZO scheme.

Read also: TechIsland donates €400,000 to social support network for Project “KtiZO”

The sources said the Interior Ministry was pleased to see that the list of contributing entities is constantly growing, both in terms of the participating companies/organisations but also the scope of assistance on offer.