articles | 25 October 2016

EU parliament extends Cyprus’ eligibility for 85% co-financing

The European Parliament said that it agreed to extend Cyprus’ eligibility for an 85% co-financing ratio for European programmes beyond June 2017.

“Deputies voted in favour of extending Cyprus’ eligibility period in which the 85% co-financing ratio remains in place until the completion of the 2014 to 2020 programme period,” the parliament said in an emailed statement recently.

As a “developed region” Cyprus would be eligible to a 50% financing contribution with European Union funds, the parliament said. “Given though that Cyprus is facing for some time now financial hardship and a drop in investment level, it was granted a higher co-financing ratio effective on January 1, 2014”.

The new regulation which requires the Council’s approval, will enter into force a day after it is published in the EU’s gazette, the statement said.

Source: Cyprus Mail

Cooperation Partners
  • Logo for Cyprus International Businesses Association
  • Logo for Cyprus Shipping Chamber
  • Logo for CFA Cyprus
  • Logo for Cyprus In Your Heart
  • Logo for Cyprus Chamber of Commerce and Industry
  • Logo for Invest Cyprus
  • Logo for Association of Cyprus Banks
  • Logo for Cyprus Investment Funds Association
  • Logo for Ministry of Energy, Commerce, Industry and Tourism