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Commission issues preliminary assessment of Cyprus' request for €85 million disbursement under the RRF
October 27, 2022
The European Commission on Tuesday endorsed a positive preliminary assessment of Cyprus' payment request for €85 million in grants under the Recovery and Resilience Facility (RRF), while Cyprus lost €90 million in grants due to better-than-expected economic performance during the Covid-19 pandemic.
President of the European Commission Ursula von der Leyen said, “I have good news for Cyprus.”
“Sufficient progress has been made in the rollout of its recovery and resilience plan to receive the first payment under NextGenerationEU. Once Member States give their greenlight, Cyprus will receive 85 million euros as a result of its good and swift progress in implementing the plan's first set of reforms and investments,” she said, according to a European Commission press release, adding that the reforms include important measures for the green and digital transition, as well as measures to enhance financial stability and to fight corruption.