Nicosia, Cyprus. The Bank of Cyprus on Tuesday announced a support package for livestock farmers affected by foot and mouth disease, alongside other impacted businesses and individuals. The bank said the measures are intended to provide necessary liquidity and help customers address immediate financial pressures.
Support package and scope
The bank said it is “standing by those affected, responding to the emergency needs of its customers while remaining committed to its role as a pillar of stability in the Cypriot economy”.
Loan instalment suspension
A key component of the package is the suspension of loan instalments, covering both capital and interest payments. Eligible customers will be able to benefit from a payment moratorium of up to 12 months.
The measure applies to borrowers directly affected and included in state support schemes. It is subject to the condition that it concerns performing loans only.
Targeted liquidity solutions
In addition, the bank is introducing targeted liquidity solutions to support affected businesses. The bank said these facilities aim to enable the rapid recovery of damages suffered by businesses while ensuring business continuity.
The bank said the liquidity measures are intended to cover immediate operational needs and stabilise affected enterprises during the recovery phase.
How will the Bank of Cyprus support package affect your loan repayment or access to liquidity?