Stella Michaelidou, the Cyprus Commissioner for State Aid Control, has unveiled the endorsement of a €35-million subsidy initiative designed to establish a robust Very High Capacity Network (VHCN) connectivity primarily in rural regions that lack private sector investment.
Administered by the Deputy Ministry of Research, Innovation, and Digital Policy, the initiative strives to address regional disparities and the limited market viability concerning the availability of broadband internet access in these underserved areas, as highlighted in a press release issued by the Commissioner’s Office.
The project’s scope encompasses the provision of super-fast network access to 44,000 newly installed connections in areas with inadequate service, as highlighted in the official announcement.
The project has gained approval based on the parameters of the National Recovery and Resilience Plan, with financial support secured from the EU Recovery and Resilience Facility, according to the provided press release.