Anaplasis Business Consultants Ltd
news.jpg

CYPEF is a fund established by the Republic of Cyprus to support and strengthen entrepreneurship in the country by enhancing access to finance to small and medium-sized enterprises (SMEs). Amounts dedicated from the Cypriot government to CYPEF are made available through financing from the European Investment Bank (EIB). CYPEF is managed by the European Investment Fund (EIF).

CYPEF’s financial instruments will be deployed by local banks which will be selected by EIF following Calls for Expression of Interest (CEoI) and therefore act as EIF’s financial intermediaries. These financial intermediaries will make available CYPEF’s financial instruments to eligible SMEs at favourable terms, in the form of reduced interest rates and potentially reduced collateral requirements, extended loan maturities and grace periods.

The EUR 100 million of initial capital pulled together under CYPEF by the Cypriot Government will be matched by equal contributions from EIF’s selected financial intermediaries, translating into EUR 200 million of finance to the benefit of Cypriot SMEs. Additional amounts may become available at a later stage, subject to satisfactory market absorption of the CYPEF funds.

What kind of enterprises and financing needs does CYPEF support?

CYPEF benefits enterprises based in Cyprus as well as self-employed entrepreneurs registered under the Cyprus social insurance scheme operating in the majority of economic sectors. Any economic activity financed under CYPEF needs to be performed within the area effectively controlled by the Cypriot Government. CYPEF’s financial products can support both working capital and investment loans. Business taxes such as Value Added Tax (VAT) are only eligible if they are non-recoverable.

For more information contact us

© 2019 Anaplasis Business Consultants Ltd. All rights reserved. Designed and maintained by mmVirtual