EU funds to come earlier for Cyprus

EU funds to come earlier for Cyprus

 

By Stefanos Evripidou

The government yesterday welcomed the European Commission’s expression of solidarity with Cyprus and willingness to bring forward payments to Cyprus from the 2014-2020 EU budget to help it access much-needed funds in the immediate future.

In response to a letter sent by President Nicos Anastasiades on April 9 requesting help to overcome the current crisis, European Commission President Jose Manuel Barroso proposed “frontloading” payments to Cyprus from the EU budget so that allocations for the next seven years are paid early to give the battered economy a boost.