The outgoing cupboard of Cyprus accepted this week the grant scheme for the digital upgrading of enterprises.

The challenge is a part of Cyprus’ Restoration and Resilience Plan (RRP) for the years 2021-2026, and can be funded by the European Union’s Restoration and Resilience Mechanism (RRM). The challenge can also be a part of the THALIA 2021-2027 Program and is co-financed by the EU’s European Regional Growth Fund (ERDF) and the Republic of Cyprus, as a part of Cyprus’ Cohesion Coverage.

The quantity out there to finance the plan throughout the implementation interval is 10 million euros, with the choice of submitting proposals for €14 million in order that, if financial savings are found throughout the proposal analysis course of, profitable enterprises can be part of the plan.

Present small and medium-sized companies that implement expenditure within the class of digital upgrading (together with e-commerce), in addition to new SMEs whose funding proposal should embody e-commerce and/or the appliance of superior digital applied sciences, are potential beneficiaries of the scheme.

The Power Ministry estimates that round 300 SMEs will profit, and a excessive stage of curiosity is predicted from companies.