Cyprus National Solidarity Fund budget discussions for 2026

The Cyprus Parliamentary Committee on Finance recently reviewed the 2026 budget for the National Solidarity Fund, amounting to €28.7 million. This sum comprises unspent funds from the 2025 compensation plan and will be used to support depositors and bondholders affected by the 2013 bank haircut. Approximately €10 million of this budget is allocated for claimants who previously submitted applications but failed to provide IBAN details or faced technical issues, with an online platform reopening for them between October 6 and November 6, 2026.

The allocation has drawn criticism from political figures and groups like SYKALA, who argue the amount is insufficient and represents a failure to meet previous government commitments for higher compensation phases. While the government maintains that fiscal responsibility is necessary, there are calls for a more comprehensive plan. Meanwhile, the Ministry of Finance is preparing a new compensation scheme for 2027, with plans to reopen the online platform to all eligible individuals by November 2026. Ongoing issues regarding the potential inclusion of former shareholders and the resolution of legal costs for those who sued the state remain active topics of parliamentary debate.