Cyprus has received €709 million from the Recovery and Resilience Fund following a new €119.8 million payment last Friday, President Nikos Christodoulides said.
The amount represents 70% of the €1.02 billion allocated to Cyprus under the scheme.
Final payment expected in December
A final payment is expected in December, bringing total receipts to around €992 million and the absorption rate to 97.3%.
Christodoulides attributed the progress to close monitoring of deadlines and daily coordination between ministries and government services.
He said the aim was to ensure that no time or available European funding was lost, while turning the resources into tangible results for the economy and society.
Recovery plan completed in August
Cyprus completed its Recovery and Resilience Plan in August 2026, with 221 milestones and targets and 61 major reforms.
The plan includes infrastructure projects worth around €600 million and 40 grant schemes totalling €420 million.
More than 850 businesses have received support, while 300 research and innovation projects have been funded.
Around 50,000 homes have received support for photovoltaic installations, including 7,000 vulnerable households, while around 4,300 people received grants for electric vehicles.
Support for households, schools and businesses
The plan also provided support for around 90,000 premises to connect to high-speed networks.
Some 4,800 children received subsidies for pre-primary education fees, while 750 employers received support to hire unemployed people.
Projects completed under the plan include the Pancyprian Blood Centre, upgraded hospital infrastructure, photovoltaic and insulation installations at 405 schools, multipurpose children’s centres and two model special education schools.
Other projects include smart water and electricity meters and the CY ALERT early warning system.
Christodoulides thanked all those involved in implementing the plan, particularly the Finance Ministry and the Directorate-General for Development for their coordinating role, as well as Parliament for helping ensure reforms were approved on time.
He said the programme had turned a major European opportunity into concrete projects, reforms and investments.
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