Cyprus searches for seven-member board to unlock €69m EU funds

The Board of Directors of the Cyprus Business Development Organisation, known as KOAE, is expected to get to work as soon as it is appointed by the Council of Ministers. The board will have seven members and must be appointed before the end of August, so the country can disburse up to €69 million from the Recovery Fund.

The underlying scheme expires at the end of the year. The appointment of the board, along with the establishment of the organisation, are among the last requirements Cyprus...