Cyprus Mail
BusinessCyprus

Grants for SMEs

A new initiative launched by the ministry of energy, commerce, industry and tourism (MECIT) and the European Bank for Reconstruction and Development (EBRD) aims to facilitate access to advisory services by providing grants to 30 small and medium-sized businesses (SMEs) registered and operating in the Republic of Cyprus.

The initiative is part of Advice for Small Businesses, a three-year programme implemented by both parties since May 2017, to support Cypriot small businesses improve competitiveness, strengthen performance, and boost growth.

The programme, co-funded by the European Regional Development Fund (ERDF), also aims to facilitate the development of the local consultancy market and improve the quality of business advisory services.

“We welcome the ASB programme which is expected to enhance the competitiveness of Cypriot enterprises as well as their export capacity,” the SME Envoy of Cyprus, Constantinos Karageorgis said. “We are happy to announce the call of interest for the programme as this is a direct response to a request of the business community to receive this kind of services. Given the EBRD’s expertise in this area, we are confident the programme will succeed and have a positive impact on SMEs.”

Anna Filipova, National Programme Manager for the ABS programme in Cyprus, said that private sector support lies at the heart of the EBRD’s mandate. “We are pleased with the opportunity to offer our services to Cypriot businesses. With our programme we will provide targeted support to address the specific needs of individual companies to help them prosper and grow.”

Grants will be approved on a “first applied – first received” approach, providing applicants are eligible and grant approval criteria are met. The deadline for the submission of applications is October 26, 2018.

For more information on eligibility criteria, grant disbursement rules, necessary supporting documents, the timetable to be followed and other clarifications relating to the call and the application process, interested SMEs can refer to the official website of the MECIT (https://goo.gl/w7P29t) and EBRD ASB Cyprus (+357 22 395 500-1, [email protected]).

 

 

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