Cyprus cabinet establishes business development agency and appoints new THOC board

On August 6, 2026, the Cypriot Cabinet of Ministers held its first meeting under its new composition, officially determining the activation date for the law establishing the Cyprus Business Development Agency. According to Finance Minister Makis Keravnos, the new entity is designed to enhance funding access for small-to-medium enterprises, startups, and self-employed individuals, effectively addressing existing market financial gaps. The legislation was passed by Parliament on July 14, and the Cabinet has now appointed a seven-member board of directors to lead the organization.

Simultaneously, the Cabinet announced a leadership renewal for the Cyprus Theatre Organization (THOC). Following recommendations from the Advisory Council, a new board was appointed to take over immediate duties. The board is led by President Pantelis Voutouris, a former university professor, and Vice President Eleni Kyriakou Papadopoulou. Other appointed members include George Theodosiou, Nikoleta Klevoulou, Stella Mikelli, Kyriaki Manousaki, Nastazia Christodoulou, Maria Chamali, and Maria Lambiri. This reorganization reflects the government's ongoing process of finalizing the structures of various semi-state organizations.