The economy in Cyprus is urgently dependent on tourism, and the country is suffering from the pandemic accordingly.
Ursula von der Leyen is visiting the EU country, the first corona funds are expected to flow soon.
Nicosia - The EU Commission has given the Republic of Cyprus the green light for the reconstruction plan after the Corona crisis.
"The cooperation was excellent," said EU Commission chief Ursula von der Leyen during a visit to Nicosia on state radio.
Large parts of the EU aid would be used for infrastructure, climate protection, digitization and the connection between Cyprus and mainland Europe.
According to the government in Nicosia, the program has a volume of 1.23 billion euros.
Of this, one billion euros are grants and 230 million euros are cheap loans.
These funds should be paid out in stages by 2026.
The first 130 million euros would be transferred by the end of July.
“It is a historic day,” said Cypriot President Nikos Anastasiades.
The EU's corona aid is the most important action since the island republic was founded in 1960.
Cyprus urgently needs the EU funds because tourism as the main source of income is suffering severely from the corona pandemic.
Commission head von der Leyen should then travel on to Croatia.
dpa
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