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Cyprus Announces €363 Million Business Support Plans

Published February 19, 2026, 17:08
Cyprus Announces €363 Million Business Support Plans

The Cypriot Ministry of Energy, Commerce and Industry is implementing a comprehensive program of funding schemes totaling €363 million to support businesses. These plans, including the “THALEIA” program and funds from the Recovery and Resilience Mechanism and REPowerEU, aim to strengthen business liquidity, access to finance, technology adoption, and sustainability. Minister Michalis Damianou announced the plans at the 10th Annual Innovation and Entrepreneurship Forum, emphasizing the importance of supporting the new generation of entrepreneurs and creating a dynamic business environment. The government seeks to encourage businesses to invest in activities that enhance their development and competitiveness. The University of Cyprus' entrepreneurship competition was recognized as a significant catalyst for fostering creativity and entrepreneurial thinking among young people. The success of these plans depends on effective implementation and adaptation to market needs, as well as ensuring a supportive ecosystem for entrepreneurship.