The Commissioner for state aid control Stella Michaelides published her decision on a scheme for Small and Medium Size Enterprises (SMEs) titled “Circular Economy Project in Small and Medium Enterprises (SMEs)”, according to which the total amount for aid granted reaches €400,000 cumulatively while the minimum amount of investment is €30,000.
The period of the measure covers 2024 – 2026.
Beneficiaries are new or existing SMEs, which are established or will be established in Cyprus, excluding the areas in which the Government of the Republic of Cyprus does not exercise effective control, due to the Turkish invasion.
The Measure, as stated in a press release, is included in the Recovery and Resilience Plan for Cyprus for the period 2022 – 2026 and will be financed by the EU Recovery and Resilience Facility.
The competent authority for the implementation is the Industry and Technology Service of the Ministry of Energy, Trade and Industry and the total budget amounts to €14,400,000.
The maximum aid intensity provided for in the Measure is set at 50%.
( Source CNA )
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