“In the wake of natural disasters, the EU Solidarity Fund is a concrete expression of European solidarity. Cyprus is set to receive a first EUSF payment following the terrible drought and forest fires of June in order to support reconstruction efforts and regenerate economic activity. This first disbursement of aid shows that we are standing side by side with Cyprus,” said Commissioner for Regional Policy Corina Crețu.

The amount of this advance was calculated on the basis of the preliminary assessment of the application received from Cyprus on 5 September, which found that the financial contribution from the EUSF was likely to amount to almost €7.3 million. In accordance with EUSF rules, the advance payment amounts to 10% of this sum. Once it has completed the assessment of the application, the Commission will propose a definitive amount of aid, to be approved by the European Parliament and the Council.

Source: InCyprus