The European Commission has received Cyprus’s fourth payment request under the EU Recovery and Resilience Facility (RRF) on Wednesday, amounting to €120.3 million in grants after pre-financing deductions.
The Commission said the request covers 20 milestones and 8 targets. These include reforms to strengthen banking sector resilience, address property title deed issuance inefficiencies, expand online government services, and improve education quality through modernised teacher and school evaluation systems.
The request also encompasses major investments in healthcare through cross-border e-health services development, digitalisation via an advanced system for Cyprus’s Securities and Exchange Commission, and electronic customs systems implementation under EU customs code.
The European Commission will now assess the request before sending its preliminary evaluation to the Council’s Economic and Financial Committee regarding Cyprus’s fulfilment of required milestones and targets for this payment.
Cyprus’s total recovery and resilience plan will be funded with €1.22 billion.
