Cyprus businesses seek simpler access to EU funding, Keve president says

Nicosia, Cyprus. Cyprus businesses need easier access to European funding if EU initiatives are to translate into investment and growth, Cyprus Chamber of Commerce and Industry (Keve) president Stavros Stavrou said at EU Finance Day 2026.

Speaking during a discussion on the EU strategy for financing business innovation and growth, Stavrou said future European funding should place greater emphasis on helping businesses adopt, commercialise and scale innovation.

EU Finance Day discussion

EU Finance Day 2026 was held in Nicosia on September 22, bringing together European officials, lenders, investors and businesses to examine ways to improve access to finance as the EU seeks to strengthen competitiveness.

The speakers included Eike Klapper, deputy head of unit for access to finance at the European Commission’s DG GROW; Aimilia Pistrika, head of the European Investment Bank Group office in Cyprus; and Eirini Botonaki, the EIB’s senior loan officer and global relationship manager for the banking sector in Greece and Cyprus.

Private-sector and investment representatives included Andreas Papadopoulos, head of commercial banking at Eurobank; Maria Markidou Georgiadou, founder and managing director of Cyprus Seeds; and Demetrios Zoppos, co-founder and partner at Cyprus venture capital fund 33East.

The programme also included Kyriacos Kakouris, adviser to the finance minister and former EIB vice-president, along with representatives of the wider business and investment community.

Focus on small businesses

Stavrou said the next generation of European funding should go beyond financing the creation of new ideas and support businesses in applying innovation commercially and expanding their operations.

He placed particular emphasis on very small businesses, saying new European financing arrangements must work for companies without large teams or specialised departments to navigate EU programmes.

According to the latest full-year figures from the statistical service, Cystat, 94.8 per cent of Cyprus enterprises employed fewer than 10 people in 2023, while 0.1 per cent employed 250 people or more.

Simplifying funding routes

Stavrou said simplifying access was as important as making finance available, with businesses requiring clearer routes to programmes and instruments suited to their investment plans.

He said existing support structures could play a larger role in addressing this gap, citing the Enterprise Europe Network, which advises businesses on financing, innovation, international expansion and participation in EU programmes.