The European Commission has approved a Cypriot scheme for 3 million euros to support companies and the self-employed that had to suspend their activities due to the coronavirus pandemic and restrictive measures, under the State aid Temporary Framework.
The measures, which will take the form of direct grants, will be open to companies and self-employed people active in certain sectors such as nightclubs, organisation of conventions and trade shows, support activities to the performing arts and theatres. The purpose of the new scheme is to address the liquidity needs of beneficiaries and to help them cover part of their operating expenses.
Source: Cyprus News Agency