State-owned asset management company Kedipes paid €60 million to the state on June 26, as part of the ongoing repayment of state aid previously provided to the now-defunct Cooperative Cyprus Bank.

According to a statement by Kedipes released on Friday, the payment concerns the second quarter of 2025 and forms part of the gradual repayment of the total financial support that was extended.

The organisation said that total repayments made by Kedipes since it began operations in 2018 have now reached €1.59 billion.

Of this amount, €1.57 billion has been returned in cash, €13.5 million has been spent on the Rent for Installment scheme, and €10.5 million accounts for other payments, such as contributions to the Estia scheme.

“As the implementing body of the Rent for Installment scheme, Kedipes has so far contributed €13.5 million for the inclusion of 116 residences in the programme,” the organisation said.

They added that this initiative aims to support vulnerable borrowers and safeguard social cohesion.

At the same time, Kedipes reported that it maintains a cash reserve of €100 million, which is earmarked to finance the Rent for Installment scheme over the coming quarters.