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ARTICLE · 16 JULY 2020

26 June 2020, EU Backs Launch Of Three Covid 19 Support Measures In Cyprus.

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Minister of Finance, Mr. Constantinos Petrides helped get the weekend off to an auspicious start by announcing that three measures, designed to counteract some of the negative impacts of Covid 19, had gained EU approval and would be launched with immediate effect.

CyprusCoronavirus (COVID-19)
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Minister of Finance, Mr. Constantinos Petrides helped get the weekend off to an auspicious start by announcing that three measures, designed to counteract some of the negative impacts of Covid 19, had gained EU approval and would be launched with immediate effect.

The specific measures approved were:

  1. An interest rate subsidy for new housing loans (excluding mortgages already subsidized under other government schemes) taken out by private individuals to purchase or build primary residences.
  2. An interest rate subsidy for new business loans.
  3. A one-off payment to the self employed and to small businesses, the activities of which were subject to full or partial suspension as a result of Cyprus Government 'lockdown' measures.

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