The largest amount of all EU countries, in terms of population, has been secured by Cyprus from the European Commission to address the impact on employment of the Pandemic, said today the Minister of Labor and Social Security Zeta Aimilianidou. Cyprus has secured an amount of 479 million euros with the first installment of 250 million euros already paid.
In her statements, Ms. Aimilianidou initially expressed the Government's satisfaction with the approval by the European Commission of the 8 employment support plans for tackling unemployment, to support employees and businesses through the sure tool, the financial tool of the Commission.
The Minister said that yesterday the first installment of 250 million euros has been paid and at the beginning of 2021 the remaining amount will be paid. As he noted, the approval of the European Commission of 479 million, shows that the Government's plan for dealing with the crisis from the first moment and the support of employees, companies, self-employed and the elaboration of all plans from March 2020, he was right.
As he explained, this amount is a form of loan with repayment in 15 years, while he noted that 2 more EU countries have managed to approve all the plans that had been implemented or are still being implemented.
Ms. Aimilianidou said that it is also important, the first of Cyprus in relation to the amount that has been approved and is already paid, as this is the highest within the EU in relation to the proportion of the country's population. "This gives us the courage to continue to implement all these plans because really everyone who works, businesses and self-employed people need our support so that we can all together overcome this difficult problem we are facing with its pandemic." Covid-19", concluded.
Source: KYPE