Examples of Projects

Project Description: 
During the recent financial crisis followed by a deep economic recession, the labour market in Cyprus faced a severe impact resulting in massive enterprises’ closure but also a dramatical increase of unemployment. 

With the co-financing of the European Social Fund an Aid Scheme was implemented, which aimed at the encouragement of employers to hire unemployed people over 50 for full-time jobs, by covering part of the wage cost.

According to the Scheme, aid was granted for the first ten (10) months of employment, but the employer had the obligation to maintain the employee in the same position for two (2) additional months without a grant.

Expected results:
The Scheme’s target was to hire 1.000 unemployed people over 50 years old.

Implementation Period: October 2016 – December 2019

Total Budget (€): 8.4 mln

ESF Contribution: 85%

Implementing Bodies: Department of Labour

Contacts: 22 400907 email: mevgeniou@dl.mlsi.gov.cy

Website: http://www.mlsi.gov.cy/mlsi/dl