The announcement has been made for the 3rd Call for Applications for the Grants Scheme, aimed at supporting entrepreneurial activity within the walls of Nicosia, with a total budget of €2 million.
The Department of Urban Planning and Housing of the Ministry of Interior has announced the launch of the 3rd call for applications for the Grants Scheme to Support Entrepreneurial Activity within the Walls of Nicosia.
The Grants Scheme is part of the Action Plan for the Regeneration and Revitalization of the Walled City of Nicosia.
The Scheme involves providing financial support to natural or legal persons, owners, or lessees of buildings (with the written consent of the owners), or tenants of Turkish Cypriot (TC) properties (with the written consent of the Guardian of Turkish Cypriot Properties – Nicosia District Officer), who are engaged in or will engage in economic activities, for the purpose of promoting entrepreneurial activity in the area within the walls of Nicosia.
The main objectives of the Scheme are to attract new businesses to the walled city of Nicosia, encourage existing businesses to relocate to the areas covered by the Scheme, encourage businesses already operating in these areas to expand their existing facilities, upgrade the social and economic status of the area, enhance the built environment by contributing to the circular economy and green development, attract citizens from across Cyprus and from the entire urban area of Nicosia, and create new job opportunities.
The Scheme is funded by the State Budget of the Republic of Cyprus, with a total amount allocated for the needs of the Call for Proposals of €10 million (€2 million per year).
The Scheme will remain open until December 31, 2026, and potential beneficiaries will be able to submit applications/proposals during specific time periods, which will be defined in the relevant call for proposals.
The current, 3rd call for proposals was announced on April 29, 2024, and concerns a total budget of €2 million.
The amount of each grant will be 60% of the eligible expenses of each Proposal, with a maximum limit of financial assistance of €80,000 per project.
Applications, within the framework of the 3rd call of the Grants Scheme, will be submitted from April 29, 2024, to November 29, 2024. Submission is ONLY electronic, at the link: https://hippodamus.tph.moi.gov.cy/ApplicationSubmission.
Applicants must meet specific criteria and requirements in order to be eligible, which are detailed in the Grants Scheme Guide.
The Guide and its accompanying Appendices are posted on the website of the Ministry of Interior and the Department of Urban Planning and Housing.
For more information or technical assistance regarding the Grants Scheme, interested parties can contact the Department of Urban Planning and Housing at the following phone number and email:
Information about Grants Scheme:
Elena Herodotou 22409838 [email protected].
