Government Support for the Re-establishment of the Cooperative
May 8, 2025
The government supports the initiative for the re-establishment of the Cooperative, as stated by Minister George Papakanstasiou. He highlighted the need to raise 5 million euros to start the new cooperative entity, emphasizing that proper management and the right people can make the project viable. Despite challenges, the new bank can offer competitive products and lower profit margins. The regulation of the institution is under the jurisdiction of the Central Bank of Cyprus.