Brussels, 4 July 2024
Today, the Commission has received the third payment request from Cyprus for €89.2 million in grants (€76.9 net of pre-financing).
Cyprus’ third payment request concerns 12 milestones and 4 targets. It covers reforms that support investment initiatives, enhance the productivity and effectiveness of public administration, improve the system for issuing and transferring title deeds, and lead the digital transformation of the Cyprus Police Force.
The request also covers important investments in areas including health care, research and development, digitalisation of SMEs to help enhance their productivity, improving connectivity through the upgrade of internet infrastructure, and improving the monitoring of greenhouse gas emissions from Cyprus’s agricultural sector.
The Commission will now assess the request and will then send its preliminary assessment of Cyprus’ fulfilment of the milestones and targets required for this payment to the Council’s Economic and Financial Committee.
Cyprus’ overall recovery and resilience plan will be financed by €1.22 billion, of which €1.02 billion in grants and €200 million in loans. You can find more information on Cyprus’ Recovery and Resilience plan on this page, which features an interactive map of projects financed by the Recovery and Resilience Facility (RRF), as well as on the RRF Scoreboard. More information on the process of payment requests under the RRF can be found in this document of questions and answers.