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

Petrolina: A longstanding sponsor of the 'Love Route'
Successful fire evacuation exercise held at Larnaca Metropolis Mall
Contractor sought to undertake Filoxenia during Cyprus' Council of EU Presidency
First LNG-powered vessel arrives at the Limassol container terminal (pics)
Get benefits and antamivi points when you use Bank of Cyprus cards on Foody
Trump threatens further tariffs as EU, Canada retaliate for those already in place
Commerce Ministry Permanent Secretary participates in EU Competitiveness Council meeting
Cyprus-Greece-Israel FMs to discuss strengthening cooperation, Middle East developments
Electricity interconnection project, among EU priorities, Spokesman says
Trade deficit at €8.25b in 2024, up by €127.5m in January this year