The Ministry of Energy, Commerce, and Industry of Cyprus has announced a new extension to the deadline for the submission of applications for the funding scheme for the “Creation, modernization and digital upgrading of manufacturing and trading units of agricultural products”. The new deadline is the 1st of August.
The purpose of the Grant Scheme is to support the upgrade or creation of modern processing and/or marketing units for agricultural products, increase the number of SMEs utilizing information and communication technologies, develop high value-added products and innovative investments, utilize local agricultural raw materials, preserve and promote traditional and organic products, and create new jobs, especially in rural areas.
The Grant Scheme is funded by the EU Recovery and Resilience Facility under the NextGenerationEU framework with a total budget of at least €3,000,000 for the second call. The grant covers 40% of eligible expenses up to a maximum of €40,000 per project, with an increased rate of 50% up to a maximum of €50,000 for projects located in mountainous and disadvantaged areas.
Eligible beneficiaries
New or existing Small and Medium Enterprises (SMEs) engaged in the processing or marketing of agricultural products, established or to be established in Cyprus.
Eligible expenses
- New machinery/equipment for production, storage, and distribution of products.
- Digital upgrade costs (electronic equipment, software systems, website or e-shop creation).
- Transportation means for raw materials and finished products.
- General expenses related to eligible costs, such as consultant fees for preparing techno-economic studies and certification costs for quality management systems.
Check out the full description of the scheme in Greek below.