Loan freeze and liquidity support for affected farmers

The Bank of Cyprus (BoC) on Tuesday announced a support package aimed at assisting livestock farmers affected by foot and mouth disease, alongside other impacted businesses and individuals.

The bank said it is “standing by those affected, responding to the emergency needs of its customers while remaining committed to its role as a pillar of stability in the Cypriot economy“.

The measures are designed to facilitate customers and provide necessary liquidity, helping them address immediate financial pressures.

A key component of the package is the suspension of loan instalments, covering both capital and interest payments.

Eligible customers will be able to benefit from a payment moratorium of up to 12 months, offering temporary financial relief.

The measure applies specifically to borrowers directly affected and included in state support schemes.

It is also subject to the condition that it concerns performing loans only, ensuring that the support targets viable credit exposures.

In addition, the bank is introducing targeted liquidity solutions to support affected businesses.

These facilities aim to enable the rapid recovery of damages suffered by businesses, while also ensuring business continuity.

The bank explained that the liquidity measures are intended to cover immediate operational needs and stabilise affected enterprises during the recovery phase.

To facilitate access to these measures, the bank has activated a support line.

Customers can contact the specialised support team by phone at 25-156000 between Monday and Friday from 07:30 to 18:00.

Support is also available via email at [email protected] for further clarifications or assistance.

“The Bank of Cyprus remains by its customers’ side, actively supporting their efforts for a rapid recovery to the benefit of their businesses and the wider economy,” the announcement concluded.