Cyprus Mail 7 May 2020 - by George Psyllides
The cabinet on Thursday approved revised schemes to support businesses including direct grants and state-backed loans and afforded incentives to property owners to cut rents.
Finance Minister Constantinos Petrides said the cabinet approved grants for stricken small businesses, with up to 10 staff, and the self-employed. These are expected to benefit some 40,000 businesses.
It also approved €1.5bn in state-backed loans: €300m for small businesses with up to 10 staff, €1bn for small and medium enterprises, and €200m for larger entities.
Petrides said he expected some €6bn to be channelled to businesses through the scheme.
