Cyprus receives additional €119.8 million from Recovery and Resilience Facility nearing 97.3% absorption by December
The Republic of Cyprus has received an additional €119.8 million from the EU Recovery and Resilience Facility, bringing total disbursements to €709 million, or 70% of the allocated €1.02 billion. The final disbursement is expected in December, pushing total absorption close to 97.3%, approximately €992 million.
President Nikos Christodoulides highlighted that the milestone is the result of systematic and intensive efforts, including close coordination between ministries and continuous monitoring of progress. The Recovery Plan, set for completion in August 2026, encompasses 221 milestones and targets, alongside 61 key reforms.
The plan includes infrastructure projects worth nearly €600 million and 40 grant schemes totaling €420 million, supporting over 850 enterprises and funding 300 research and innovation projects. The president thanked all involved parties and emphasized that consistent work and close oversight have turned objectives into tangible benefits for Cyprus's economy and society.
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