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

TechIsland, the leading tech business association in Cyprus, has announced its donation of €400,000 to the social support network for Project “KtiZO”, led by the Ministry of Interior of Cyprus. The collaborative initiative aims to renovate refugee buildings, providing a safe and welcoming space for individuals who have been displaced.

Interior Minister Constantinos Ioannou announced the establishment of the social support network at a press conference on 21 June. He said the aim of the network was to cover any additional needs KtiZO beneficiaries may have during the temporary stay elsewhere until their apartments are ready.

The event was attended by the organisations that have so far supported the network – that is TechIsland, with its €400,000 donation, the Holy Archbishopric which has contributed €100,000 and the SupportCy network, whose members will donate services and products.

Read also: Companies, NGOs and organisations to put money and services into KtiZO

Alexey Gubarev, member of the Board of Directors of TechIsland, shared the association's vision: "TechIsland is proud to be part of this impactful project, to help create a welcoming space for those who have been displaced. A place where individuals can find safety, comfort, and the opportunity to continue their lives.”

It is noted that the member companies who have donated to the “KtiZO” project on behalf of TechIsland are Exness, MY.GAMES, Target Global, The Island School, IT Quarter, and InDrive.

"As an organisation, we are committed to bringing social change and we are privileged to play our part in shaping a brighter, more inclusive future for Cyprus," added Gubarev.

According to Ioannou, a number of other private organisations and companies have committed to join the effort.

Bank of Cyprus and the Housing Finance Corporation are also contributing significantly, by offering financing to beneficiaries wishing to join the KtiZO scheme.

Ioannou said the details of the type of assistance that will be given will be announced in the immediate future. He said 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 money", underlined Ioannou, "is utilised with an unwavering commitment to proper management in a transparent and simple manner, based on socio-economic vulnerability criteria established in the individual meetings and discussions with the beneficiaries, and an audit that will be carried out through the databases of other competent State Services"

The minister said he was convinced that more private entities would follow the other contributing companies’ lead and support the network as well.

“The creation of the social support network for the KtiZO scheme fills us with optimism and pride,” said Ioannou. “It gives us the strength to deal with any obstacles we may find ahead of us and allows us to look to the next day with optimism.”