Blog
Cyprus' Proposals For EU Recovery And Resilience Facility To Be Finalised Next Week
November 24, 2020
Cyprus’ plan of proposals to receive about €968 million of funding from the European Union Recovery and Resilience Facility - Next Generation EU will be finalised next week, according to CNA sources.
The EU Fund aims at a sustainable recovery from the COVID-19 crisis, addressing the economic and social consequences, as well as at the long-term shielding of the member-states economies.
The proposals have to do with investments and reforms in a wide range of policy areas for the years 2021 - 2023. Once they are finalised the Ministry of Finance will submit them to the Commission`s Directorate‑General for Economic and Financial Affairs (DG ECFIN) to start discussions on the informal text of proposals to be submitted.