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The Independent Social Support Agency, IFKS : Strategic Vision and Community Impact

by THEFUTURE.TEAM

October 19, 2025

Event Launch At The Presidential Mansion

Today, at an exclusive event held at the Presidential Mansion and attended by the President of the Republic, the Independent Social Support Agency (IFKS) outlined its comprehensive strategy and multifaceted goals. The announcement coincided with the opening of the application period for financial aid to students for the upcoming academic year.

Funding And Application Details

Applications for student support will commence on October 27 and remain open until November 17, 2025. This initiative is designed to secure equal educational opportunities, ensuring that no student is excluded from higher education due to socio-economic challenges.

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Commitment To Equal Opportunity And Transparency

Filippa Karsera Christodoulid, President of the Agency, emphasized the pivotal role of the IFKS in leveling the educational playing field. She noted that with the support of dedicated sponsors and partners, 1,098 students were able to pursue their studies last year. Karsera Christodoulid remarked, “Some students would not have been able to start, or would have had to abandon their studies, and others work in parallel – our intervention prevents that.”

Ensuring Long-Term Sustainability And Accountability

In her address, the President of the Agency also underscored the importance of transparency, noting that all applications, sponsor details, and eligibility criteria are available on the official website at socialsupport.gov.cy. She stressed that long-term financial sustainability is crucial to meeting the growing demand, affirming the Agency’s commitment to supporting every child’s dream with comprehensive resources, benefiting families and the wider community alike.

A Decade Of Service And Expanded Support

This year marks the tenth consecutive year of the Agency’s service. Looking ahead to the 2025-2026 period, the IFKS will extend its support by including three new student groups in its aid program. These groups comprise graduates from the Georgios Markou School for the Deaf, graduates from the School for the Blind, and individuals resettled in the areas of Kormakitis and Rizokarpasu.

Financial Oversight And Strategic Partnerships

General Accountant Andreas Antoniadis, who oversees the fiscal management of the Agency, also addressed the gathering. Since 2015, over 4,100 students have benefited from more than 5.8 million euros in aid. The support is provided in the form of tuition fee contributions or partial rent payments, directly benefitting academic institutions and landlords. The Agency collaborates with top-tier educational establishments both in Cyprus and internationally, ensuring that students have access to recognized and certified fields of study. In cases where additional support is necessary, institutions follow the Agency’s recommendations to implement further accommodations.

For further details on the Agency’s initiatives, please refer to the project presentation.

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Central Bank Of Cyprus Balance Sheet Reflects Strong Eurosystem Position

by THEFUTURE.TEAM

February 17, 2026

Overview Of Financial Stability

The Central Bank of Cyprus (CBC) has released its latest balance sheet, reaffirming its steadfast role within the Eurosystem. The balance sheet, featuring total assets and liabilities of €29.545 billion, underscores the institution’s stable financial posture at the close of January 2026.

Asset Allocation And Strategic Holdings

Governor Christodoulos Patsalides issued the balance sheet, which details the CBC’s asset composition under the Eurosystem framework. Notably, the bank’s gold and gold receivables amounted to €1.635 billion, providing a significant hedge and stability to its balance sheet. Additional asset categories include claims on non-euro area residents denominated in foreign currency at €1.099 billion, while claims on euro area residents in both foreign and domestic currency add further depth to its portfolio.

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The most substantial asset category, intra-Eurosystem claims, reached €19.438 billion, an indication of the CBC’s deep integration with its European counterparts. Furthermore, euro-denominated securities held by euro area residents contributed €6.587 billion. Despite a marked emphasis on these areas, lending to euro area credit institutions in monetary policy operations recorded no activity during the period.

Liability Structure And Monetary Policy Implications

On the liabilities side, banknotes in circulation contributed €3.218 billion. Liabilities to euro area credit institutions associated with monetary policy operations were notably the largest single category, totaling €17.636 billion. Supplementary liabilities included those to other euro area residents, which aggregated to €4.989 billion, with government liabilities playing a predominant role at €4.754 billion.

Other liability items, such as claims related to special drawing rights allocated by the International Monetary Fund at €494.193 million, and provisions of €596.571 million, further articulate the CBC’s exposure. Revaluation accounts stood at €1.643 billion, and overall capital and reserves were confirmed at €333.822 million, completing the picture of a well-capitalized institution.

Conclusive Insights And Strategic Alignment

The detailed breakdown illustrates the CBC’s sizeable intra-Eurosystem exposures, reinforcing its central role within Europe’s monetary landscape. With an asset-liability balance maintained at €29.545 billion, the CBC’s financial position remains robust, indicating a commitment to structural stability and strategic risk management.

This fiscal disclosure not only provides transparency into the CBC’s operations but also serves as a benchmark for comparative analysis among other central banks within the Eurosystem, highlighting the intricate balance between asset liquidity, regulatory oversight, and monetary policy imperatives.