Parliamentary committee debates Cyprus Business Development Organization bill

The House Finance Committee has begun an article-by-article review of a bill to establish the Cyprus Business Development Organization. The legislation aims to facilitate financing for small and medium-sized enterprises, startups, and self-employed individuals, serving as a key milestone of the Recovery and Resilience Plan. During the session, AKEL MP Aristos Damianou strongly criticized the procedure, calling it a mockery and arguing that lawmakers were not given sufficient time to study the 400-page document. In response, Committee Chair Christiana Erotokritou rejected the accusations, emphasizing the need to expedite the process to prevent the loss of EU Recovery and Resilience Plan funds. Erotokritou maintained that the committee remains productive and must work under tight deadlines to meet obligations. The discussion is scheduled to continue next Monday with the objective of passing the legislation before the parliamentary recess. Damianou suggested that such rushed procedures were not followed by previous committee chairs, while Erotokritou attributed the opposition's reaction to upcoming political agendas.