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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)

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