Philenews

Banks Respond to President's Call for Support to Farmers Affected by Foot-and-Mouth Disease

Published March 25, 2026, 07:11
Banks Respond to President's Call for Support to Farmers Affected by Foot-and-Mouth Disease

Banks in Cyprus have responded positively to President Christodoulides' request for support to farmers affected by the foot-and-mouth disease crisis. Bank of Cyprus was the first to announce measures, including loan payment deferrals and special support provisions. President Christodoulides had previously sent a letter to the Association of Banks, emphasizing the negative impact of the disease on the livestock sector and the need to maintain the viability of affected farmers. In his letter, the President stated that the Council of Ministers has approved a support package and requested that banks leverage these measures to provide sustainable loan restructuring solutions. He also requested the cooperation of banks in examining loan restructuring requests where justified. Bank of Cyprus announced that it will provide payment deferrals of up to 12 months to affected customers and specialized liquidity solutions to restore damages. The bank has created a dedicated support team to facilitate its customers.