European Commission approves subsidies for Cyprus and Greece: who will benefit
The European Commission has approved new state support programmes for Cyprus and Greece aimed at stimulating the economy, developing businesses and supporting key sectors.
For the Republic of Cyprus, grants and subsidies are предусмотрены and will be directed toward:
- support for small and medium-sized enterprises,
- investments in innovation and digitalisation,
- projects in the fields of energy and sustainable development,
- strengthening the economy amid inflation and rising costs.
The support will be provided within the framework of European state aid rules and must not distort competition in the EU market.
The European Commission emphasises that:
- the aid will be targeted and temporary,
- each programme will be implemented under strict supervision,
- the subsidies are aimed at recovery and sustainable growth of the economies of the two countries.
In the near future, the national authorities of Cyprus and Greece will publish detailed conditions, selection criteria and application procedures.
Author
I am originally from St. Petersburg — a city with a unique character and rhythm. My professional life began rapidly: at just 16, I plunged into the world of global events. The World Cup, the roar of Formula 1 cars in Sochi, the energy of VK Fest, and the backstage of Fashion Week — I always…
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