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Cyprus

State payments to businesses begin

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The government has started making payments to some 30,000 businesses and the self-employed as part of a state assistance scheme for direct cash grants to cover operating expenses.

According to the head of the president’s press office, Victoras Papadopoulos, 5,000 payments have been made since Monday, to hotels, companies operating in malls, and businesses and self-employed persons in Paphos and Famagusta.

The payments are expected to be completed by the end of March.

They are deposited to the eligible entities’ bank accounts to be used to cover rent, utilities, and other operating expenses.

The cash is earmarked for businesses affected by government measures to stop the spread of the coronavirus. The government has also introduced payroll schemes managed by the labour ministry.

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