The maximum cumulative grant amount that can be awarded to a Small and Medium-sized Enterprise under the "Circular Economy Plan for SMEs" measure amounts to €400,000, while the minimum investment amount eligible for support is €30,000.

The Commissioner for State Aid Control, Stella Michailidou, issued her decision on the support measure on March 13th. The measure will be implemented over the period of 2024 – 2026.

Eligible for the measure are new or existing SMEs that are established or will be established in Cyprus, excluding areas where the Government of the Republic of Cyprus does not exercise effective control.

As stated in an announcement, the measure is included in Cyprus' Recovery and Resilience Plan (RRP) for the period 2022 – 2026 and will be funded by the European Union’s Recovery and Resilience Facility.

The responsible authority for the implementation and execution of the measure is the Department of Industry and Technology of the Ministry of Energy, Commerce, and Industry, and the total budget is €14,400,000.

The maximum aid intensity provided in the measure is set at 50%.