Cyprus Mail 19 May 2020 - by George Psyllides
Finance Minister Constantinos Petrides
The government on Tuesday withdrew a scheme for state-backed borrowing following disagreements with opposition parties, which sought numerous amendments that rendered it unenforceable.
Finance Minister Constantinos Petrides said the government will next week announce policies and measures to support small and medium businesses and employment.
The withdrawn scheme provided for grants for stricken small businesses, with up to 10 staff, and the self-employed.
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.
