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Cyprus and Latvia get first payments from EU Covid fund

Countries are due to receive €1.2 billion and €1.8bn respectively, with R&D on their agendas

The European Commission has made the first payments to Cyprus and Latvia from the EU’s €672.5 billion pandemic relief fund for member states, with the countries due to get €1.2bn and €1.8bn respectively over the coming years.

The fund is being used to support investments and reforms in areas that must include environmental sustainability and digitisation. Aside from these two areas, countries have leeway over how they use the funding, and both Cyprus and Latvia intend to use some of their share for supporting R&D.

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