Bank of Cyprus Launches Comprehensive Relief Package for Fire-Affected Limassol Communities

by THEFUTURE.TEAM

August 5, 2025

Swift Response to Crisis

In a decisive move to support both individuals and businesses impacted by the recent wildfires in the mountainous regions of Limassol, the Bank of Cyprus has unveiled an extensive relief package. This initiative, building on earlier commitments from the Association of Cyprus Banks, underscores a resolve to provide immediate assistance and facilitate the rapid reconstruction of damaged properties.

Interest-Free Loans and Financial Support

A cornerstone of the bank’s relief efforts is the provision of interest-free loans up to €5,000 over three years, available exclusively to existing active clients. These loans offer critical financial support to cover urgent needs and repair fire-induced property damage. The application window is open until September 30, 2025, providing a timely avenue for those affected.

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Flexible Repayment Options For Households And Businesses

Understanding the financial strain on affected families and small business owners, the bank has instituted a six-month suspension of loan instalments for individuals and enterprises benefitting from governmental support measures. This deferral applies solely to loans currently under service and reinforces the bank’s commitment to easing the recovery process.

Additional Recovery Initiatives

Beyond immediate financial aid, the bank offers low-interest housing loans with the benefit of fixed rates to aid property restoration. For business clients, specially tailored loan terms are designed to support operational recovery and repair of structural damages. Furthermore, foreclosure procedures for affected parties under government support schemes will be paused for six months, providing additional breathing room during these challenging times.

Community Engagement and Ongoing Assistance

The Bank of Cyprus has bolstered its community outreach through the SupportCY volunteer corps, which has been instrumental in bolstering fire defenses and supporting state-led initiatives from the onset of the crisis. Interested individuals and businesses can access further details or request assistance by contacting the bank at 25-156000, Monday through Friday between 07:30 and 18:00.

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Cyprus Tourism Shows Strength As Clean Monday Hotel Bookings Surge

by THEFUTURE.TEAM

February 18, 2026

Hotels Embrace A Bright Outlook

Recent figures point to growing momentum in hotel reservations ahead of the Clean Monday weekend, signaling renewed confidence in Cyprus’ tourism sector. Christos Angelides, Director of PASYXE, emphasized the positive trend while also underscoring the need to gradually extend the tourism season beyond traditional peak months.

Favorable Conditions And Festive Spirit

Angelides noted that bookings recorded during the past weekend reached encouraging levels, a development attributed to multiple converging factors. The return of sunny weather after prolonged rainfall, coupled with the festive aura of carnival events and children’s parades in cities such as Nicosia, Limassol, and Paphos, has motivated many to opt for short getaways. This seasonal momentum is further boosted by the strategic initiatives of local hotels, many of which are curating special menus for Clean Monday events, offering guests an enhanced stay experience by keeping them on-premise.

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Positioning For The Off-Season

Despite the positive indicators, Angelides cautioned that average occupancy rates of 25%–30% highlight the need for continued innovation rather than complacency. He described the current period as part of a longer process of building winter tourism and pointed to opportunities in conferences, corporate events and niche travel segments as potential drivers of year-round demand.

Expanding Air Connectivity and Collective Ecosystem

Industry expectations are further supported by expanded air connections from established markets such as the United Kingdom and Israel, alongside increased routes from Armenia, Romania, Bulgaria, Latvia and Poland. While recovery in the German market remains gradual, broader improvements in connectivity continue to strengthen overall tourism prospects. Angelides added that sustainable year-round tourism depends on a wider ecosystem that extends beyond accommodation to include restaurants, museums, cultural venues and community events.

The Path Forward

Cyprus continues to benefit from strong competitive advantages in climate, accessibility and hospitality infrastructure. With coordinated planning across tourism stakeholders and consistent investment in diversified offerings, the sector is positioned to contribute more steadily to the national economy and support a more balanced, all-season travel model.

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