Legal provisions of COM(2022)507 - Amendment of Implementing Decision (EU) 2020/1344 granting temporary support to Cyprus to mitigate unemployment risks following the COVID-19 outbreak

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dossier COM(2022)507 - Amendment of Implementing Decision (EU) 2020/1344 granting temporary support to Cyprus to mitigate unemployment risks ...
document COM(2022)507 EN
date October 25, 2020


Article 1

Implementing Decision (EU) 2020/1344 is amended as follows:

(1)Article 2 is amended as follows:

(a)paragraphs 1 and 2 are replaced by the following:

‘1.   The Union shall make available to Cyprus a loan amounting to a maximum of EUR 632 970 000. The loan shall have a maximum average maturity of 15 years.

2. The availability period for financial assistance granted by this Decision shall be 39 months starting from the first day after this Decision has taken effect.’;

(b)paragraph 4 is replaced by the following:

‘4.   The first instalment shall be released subject to the entry into force of the loan agreement provided for in Article 8(2) of Regulation (EU) 2020/672. Any further instalments shall be released in accordance with the terms of that loan agreement or, where relevant, be subject to the entry into force of an addendum thereto, or of an amended loan agreement concluded between Cyprus and the Commission replacing the original loan agreement.’;

(2)Article 3 is replaced by the following:

‘Article 3

Cyprus may finance the following measures:

(a)the special leave scheme for parents, as provided for in “Law 27(I)/2020”, and in “Regulatory Administrative Acts, 127/148/151/184/192/212/213/235/2020”, as extended;

(b)the schemes supporting companies for the total suspension of operations, as provided for in “Law 27(I)/2020” and in “Regulatory Administrative Acts, 130/148/151/187/212/213/238/243/271/273/2020”, as extended;

(c)the schemes supporting companies for the partial suspension of operations, as provided for in “Law 27(I)/2020” and in “Regulatory Administrative Acts, 131/188/239/2020”, as last amended by “Law 120(I)/2021” and by “Regulatory Administrative Act 370/2021”;

(d)the special scheme for the self-employed, as provided for in “Law 27(I)/2020” and in “Regulatory Administrative Acts, 129/148/151/186/237/322/2020”, as extended;

(e)the special scheme for hotel units and tourist accommodation, as provided for in “Law 27(I)/2020” and in “Regulatory Administrative Acts, 269/317/393/418/498/533/631/2020”, as last amended by “Law 120(I)/2021” and by “Regulatory Administrative Act 431/2021”;

(f)the special scheme to support businesses related to the tourism industry or affected by tourism or associated with businesses that are subject to mandatory total suspension, as provided for in “Law 27(I)/2020” and in “Regulatory Administrative Acts, 270/318/394/419/499/534/632/2020”, as last amended by “Law 120(I)/2021” and by “Regulatory Administrative Act 432/2021”;

(g)the special scheme for supporting businesses exercising special predefined activities, as provided for in “Law 27(I)/2020” and in “Regulatory Administrative Acts, 272/320/396/420/500/535/633/2020”, as last amended by “Law 120(I)/2021” and by “Regulatory Administrative Act 433/2021”;

(h)the subsidisation scheme of very small and small enterprises and the self-employed, as provided for in “Supplementary budget, Temporary framework for State aid measures to support the economy in the current COVID-19 outbreak”, for the part of expenditure related to the support of the self-employed and one-person companies, as extended and amended;

(i)the sickness benefit scheme, as provided for in “Law 27(I)/2020” and in “Regulatory Administrative Acts, 128/185/236/539/637/2020” as last amended by “Law 120(I)/2021” and by “Regulatory Administrative Act 273/2021”.’.

Article 2

This Decision is addressed to the Republic of Cyprus.

This Decision shall take effect on the date of its notification to the addressee.

Article 3

This Decision shall be published in the Official Journal of the European Union.