The European Fee has authorised below EU State support guidelines Cyprus` map for granting regional support from 1 January 2022 to 31 December 2027, throughout the framework of the revised regional support Tips (`RAG`) which was not too long ago adopted.
Cyprus` regional support map defines the Cypriot area eligible for regional funding support. The map additionally establishes the utmost support intensities in that eligible area. The help depth is the utmost quantity of State support that may be granted per beneficiary, expressed as a proportion of eligible funding prices.
Beneath the revised RAG, areas masking 49.46% of the inhabitants of Cyprus can be eligible for regional funding support, below the derogation of Article 107(3)(c) of the TFEU (so-called ‘c` areas).
In an effort to deal with regional disparities, Cyprus has designated a so-called non-predefined ‘c` space, consisting of 359 native authorities, with a complete of 413,225 inhabitants, and masking 49.17% of Cyprus` inhabitants.
On this space, the utmost support depth for giant enterprises is 15%, primarily based on a GDP per capita under 100% of the EU-27 common. That most support depth may be elevated by 10 proportion factors for investments made by medium-sized enterprises and by 20 proportion factors for investments made by small enterprises, for his or her preliminary investments with eligible prices as much as €50 million.
The revised RAG, adopted by the Fee on 19 April 2021 and in power since 1 January 2022, allow Member States to assist the least favoured European areas in catching up and to scale back disparities by way of financial well-being, revenue and unemployment.
In addition they present elevated prospects for Member States to assist areas dealing with transition or structural challenges equivalent to depopulation, to contribute totally to the inexperienced and digital transitions.
On the similar time, the revised RAG keep sturdy safeguards to stop Member States from utilizing public cash to set off the relocation of jobs from one EU Member State to a different, which is crucial for truthful competitors within the Single Market.
(CNA)