European Commission releases 21.2 million euro recovery payment to Cyprus

On Thursday, the European Commission disbursed 21.2 million euros to Cyprus as the fifth payment under the Recovery and Resilience Facility, part of the NextGenerationEU program. Cyprus had submitted a request for 70.5 million euros on August 1, 2025, covering 19 milestones across eight reforms and 11 investments. The Commission issued a partial approval on December 19, 2025. The disbursement of the remaining funds is contingent upon the completion of a pending milestone related to green tax reform. The allocated funds are intended for projects in public administration, justice, transport, tourism, education, healthcare, and energy-efficient renovations. In total, Cyprus’ Recovery and Resilience Plan is supported by 1.02 billion euros in grants. The Commission will evaluate the release of the balance once the outstanding requirement is met.