Investor Presentaiton
Group Financial Results for the six months ended 30 June 2020
Timely and strong response by the European and the Cypriot authorities
Comprehensive and far reaching measures to support performing businesses and the wider economy
Government measures include:
European Authorities measures-Implications for Cyprus
1.
Subsidy of interest rate of new Business Loans (€180 mn)
1.
Subsidy of interest rate for new loans to self employed and businesses
Subsidy of interest rate for 4 years
2.
Subsidy of interest rate of new Housing Loans (€45 mn)
EU Recovery Fund (€2.7 bn)
Cyprus expects to receive €1.3 bn in grants during the period
2021-23 and additional loans up to €1.4 bn
The exact amounts will depend on the finalisation of the
allocation criteria and on the government's national plan that will
be submitted to the European Commission
Subsidy of interest for 4 years
Liquidity support to eligible businesses through the PEGF of EIB
Guarantee to the banks of up to 80%
2.
Pan-European Guarantee Fund (PEGF) (€300-€400 m n)
3.
Financing of SMEs through CYPEF1 (€800 mn)
50%-50% risk sharing between the Government and the banks
4.
Government Guarantee to EIB (€1.0 bn)
3.
Government additional funding of €500 mn to eligible businesses
For more details on the government measures, pleaser refer to slides 46-47
EU SURE Programme (€479 mn)
Financial assistance in the form of loans supporting member
states in their employment preservation schemes
4. Access to ESM's Pandemic Crisis Support through the Enhanced
Conditions Credit Line, for c.€440 mn (2% of GDP)
1) The Cyprus Enterprise Fund
Bank of Cyprus Holdings
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