The members who will make up the Cyprus Business Development Agency were appointed today, Thursday, by the Council of Ministers following a meeting.
As Finance Minister Makis Keravnos stated in remarks following the meeting, the bill to establish the Cyprus Business Development Agency was submitted to the House of Representatives and passed on July 14. The mission of this agency is to support and facilitate access for SMEs, startups, and the self-employed to financing, as well as to address any financing gaps observed in the market.
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The law takes effect today, August 6, 2026, following today’s decision by the Council of Ministers, which also appointed the organization’s seven-member Board of Directors.
Five members are appointed by the Council of Ministers upon the recommendation of the Minister of Finance, including the President and Vice President of the organization, and two ex officio members, one representing the Ministry of Finance and the other the Deputy Ministry of Research and Innovation.
By its decision, the Council of Ministers has appointed the following members:
- Chairman Michalis Kammas
- Stelios Theofanous
as Vice President; Members - Filippos Hatzizacharias
- Marinos Lambrianidis
- Andreas Eisodios
Ex officio members:
Aliki Sergi and Konstantinos Kleovoulos
