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.

Follow THE FUTURE on LinkedIn, Facebook, Instagram, X and Telegram

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.

The Future Forbes Realty Global Properties

Evel Elects New President As Maria Theocharous Takes Over For 2026–2029 Term

by THEFUTURE.TEAM

November 12, 2026

Maria Theocharous has been elected president of the Limassol Chamber of Commerce and Industry (Evel), taking over from Yiannis Tsouloftas for a three-year term covering 2026–2029. Theocharous previously served as the chamber’s vice-president for tourism.

The leadership transition marks a new chapter for one of Cyprus’ main regional business organisations, with the new board set to represent the district’s key economic sectors.

Follow THE FUTURE on LinkedIn, Facebook, Instagram, X and Telegram

New Leadership Emphasises Cooperation

The chamber’s annual meeting brought together government, business and local authority representatives, including Energy, Commerce and Industry Minister Michael Damianos, Cyprus Chamber of Commerce and Industry (Keve) president Stavros Stavrou, Limassol district local government organisation president Yiannis Tsouloftas and Limassol mayor Yiannis Armeftis.

Speakers highlighted the importance of closer cooperation between public authorities and businesses in supporting Limassol’s economic development.

Representatives of the Cyprus Shipping Chamber (CSC) also congratulated Theocharous on her election and thanked the outgoing president for his cooperation. The CSC described Evel as a longstanding partner, noting the chamber’s contribution to Limassol’s business development over more than six decades.

Tsouloftas Reviews Six Years As President

In his final address, Tsouloftas reviewed the chamber’s work between 2020 and 2026, highlighting its advocacy for major infrastructure projects and efforts to address development challenges across the district.

He also outlined initiatives to remove obstacles facing local businesses, accelerate development plans and improve the conditions for economic activity.

Tsouloftas will remain involved as immediate past president, providing continuity during the transition.

New Board Covers Key Business Sectors

The new board includes representatives responsible for the chamber’s main portfolios:

Ilikos Charalambous, vice-president for commerce
Vasos Demetriades, vice-president for industry
Christos Nicolaou, vice-president for services
Nicolas Agiomamitis, vice-president for tourism
Ilias Theodorou, vice-president for finance
Demosthenes Mavrellis, vice-president for innovation and technology
Ilias Neocleous, honorary secretary

Other board members are Minos Agathocleous, Marios Antoniou, George Demetriou, Anastasios Kounoudis, Marios Constantinou, Xanthos Nemptsas, Antonis Pappas, Charalambos Pattichis, Chrysis Petousis, Farah Shammas, Andreas Tsouloftas and Kyriacos Hadjiathanasiou.

Costas Ioannides, Agathi Katsi, Anna Petraki, Filippos Filis and Tonis Hadjiloucas have been appointed members by distinction. The chamber also highlighted the growing participation of women in business leadership and decision-making.

Chamber Recognises Longstanding Contributions

The annual meeting also recognised businesses and individuals for their contributions, including members who have maintained continuous membership for 50 years.

Tributes were paid to three former contributors to the chamber, Tonis Antoniou, Dimi Mavropoulos and Andreas Laou, in recognition of their service.

Under Theocharous’ leadership, Evel begins its 2026–2029 term with a board covering commerce, industry, services, tourism, finance and innovation. Its priorities include continuing to represent Limassol businesses and advocating for the investment and cooperation needed to support the district’s economic growth.