The main objectives of the Scheme are: to attract new businesses within the walled city of Nicosia, to encourage existing businesses to move to the Scheme area, to encourage companies already operating in that area to expand their existing facilities for the enhancement of their business activity, the social and economic upgrading of the area, the upgrading of the built environment of the walled city of Nicosia while contributing to circular economy and green development, to making the area more attractive to citizens from the urban area of Nicosia and Cyprus overall, and the creation of new jobs.

The Scheme is funded by the Government Budget of the Republic of Cyprus. The total amount of €10 million will be allocated through Call for Proposals for the amounts of €2 million / year. The Scheme will remain available until December 31, 2026, and Potential Beneficiaries will be able to submit applications / proposals during specific time periods as these will be specified by relevant calls for proposals.

The 1st Call for Proposals was announced on June 1, 2022, for the total budget of € 2 million.

The submission of applications, within the framework of the 1st Call for Proposals of the Funding Scheme, will be available between June 1, 2022 and October 30, 2022. Submissions are made ONLY electronically, at the following link: https://hippodamus.tph.moi.gov.cy/ApplicationSubmission

Applicants must meet the criteria and conditions defined by the Funding Scheme Guide in order to be eligible. The Guide and its accompanying Annexes are posted on the following website: www.moi.gov.cy/sxedialefkosia