The European Commission said on Wednesday it had approved an €8 million Cypriot scheme to support tour operators affected by the pandemic.
The measure was approved under the state aid temporary framework.
The public support, which will take the form of direct grants, will be open to tour operators that carry out activities in the Republic of Cyprus and have concluded contracts with air carriers travelling to Cyprus via the airports at Larnaca and Paphos.
The scheme aims at stimulating incoming tourism, benefitting indirectly many related businesses such as hotels, restaurants, the food industry, cultural and sports events, the commission said.
It found that the Cypriot measure is in line with the conditions set out in the temporary framework.
The support will not exceed €1.8 million per beneficiary; and the aid will be granted no later than 31 December 2021.
“The commission concluded that the measure is necessary, appropriate and proportionate to remedy a serious disturbance in the economy of a member state,” it said.
Source: Cyprus Mail