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Government Unveils €23.5 Million Aid Package For Wildfire-Affected Farmers And Livestock Producers

Created with the support of Dream Play, the Wildfire Aid Project is dedicated to raising awareness about wildfires and providing effective response strategies.

Strategic Financial Intervention in the Wake of Crisis

The government has initiated a substantial financial aid package totaling up to €23.5 million to support farmers and livestock producers in Limassol who were adversely impacted by the devastating wildfires on July 23, 2025. The Council of Ministers approved these emergency measures on July 30, 2025, with the Department of Agriculture tasked with their implementation.

Direct Income Compensation for Affected Producers

An immediate priority is the direct economic relief designed to cover 100% of the annual income losses suffered by wildfire victims. By September 15, 2025, a total of €3,230,815 had been disbursed to 1,307 beneficiaries. Eligible recipients include those who applied for emergency subsidies through the KOAP for 2025 or who formally reported their damages to the Department of Agriculture by August 1, 2025.

Restoration Initiatives and Payment Structure

The second initiative focuses on a targeted reinstatement plan for restoring critical infrastructure and equipment. Beneficiaries may receive subsidies covering up to 80% of eligible expenditures. Following application submission, recipients are granted a 30% advance payment with the remainder disbursed upon the successful completion of restoration activities.

Comprehensive Investment Program for Uncovered Cases

The third component caters to those individuals and entities not benefiting from the emergency plan. This investment program offers financial support covering up to 65% of eligible costs. Similar to the restoration plan, payments are structured with a 30% advance, followed by the balance upon project completion. Both initiatives were officially announced on August 2, 2025, after a community meeting on August 8, 2025, set the stage for these measures, with final applications being accepted until September 15, 2025.

Ongoing Evaluation and Future Disbursements

As of the current timeline, 1,140 applications have been submitted, and on-site inspections began on August 7, 2025. Evaluations are expected to conclude by the end of September, with payments disbursed in phases corresponding to the progress of the recovery projects. Moreover, preliminary correspondence was sent out on September 12, 2025, to 55 apiarists and livestock producers, facilitating the initiation of advance payments under the reinstatement measures.

Government Assurance and Accountability

General Directorate of Agriculture Director Andrea Grigoriou confirmed these actions in a joint parliamentary session addressing the fires, underscoring the government’s commitment to swift and effective economic intervention in the aftermath of natural disasters. The structured and phased approach not only demonstrates fiscal responsibility but also reflects a strategic partnership between state agencies and affected communities.

Eurobank Wins Two Euromoney Awards Following Cyprus Merger

Eurobank has been named Cyprus’ Best Bank for 2026 by Euromoney, while also receiving the award for Best Bank for Large Corporates at the publication’s latest Awards for Excellence.

Merger Marks A Milestone

The awards recognise the bank’s performance during 2025, a year marked by the completion of the legal merger between Hellenic Bank and Eurobank Cyprus. The transaction created Eurobank Limited, which the group says is now Cyprus’ largest banking and insurance organisation, with assets exceeding €28 billion.

Euromoney’s Awards for Excellence evaluate banks’ performance over the previous calendar year, with this edition covering January 1 to December 31, 2025.

Lending, Customers And Digital Growth

Eurobank said its business lending portfolio expanded by around 17 per cent during 2025, while its customer base grew to more than 710,000 retail clients and 11,500 business customers.

The bank also continued its digital expansion, saying more than 96 per cent of transactions are now completed through digital channels, and most financing applications are submitted via its mobile app.

Expanding International Presence

Eurobank also highlighted the opening of its first representative office in India, describing the move as a step toward strengthening business links between Cyprus and India while supporting Cyprus’ role as a gateway to the European Union for Indian businesses and investors.

According to the bank, Euromoney recognised not only the successful completion of the merger but also its lending growth, digital transformation and contribution to Cyprus’ position as an international business and investment hub.

CEO On The Awards

“The Euromoney awards confirm Eurobank’s strong momentum and the successful implementation of our group’s strategy in Cyprus,” Chief Executive Michalis Louis said.

He said the merger strengthened the bank’s ability to support households, businesses and the wider economy, while highlighting continued investment in digital services and the opening of the representative office in India as key milestones during the year.

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