The first quarter of the year is expected to see the operation of the first Cyprus Equity Fund.
The Fund will cover the financing gap for innovative and startup businesses due to the high risk they face. According to Finance Minister Makis Keraunos, the establishment of the Fund was completed in December, and it will operate in the first quarter of the year.
According to the Finance Minister, the Republic of Cyprus has signed a financing agreement with the European Investment Bank, which will monitor the operation of the Fund. Additionally, Mr. Keraunos stated that the Fund will amount to €37.5 million, of which €30 million will come from government contributions and the rest from private investors.