The Central Bank of Cyprus has issued a circular which provides the banks with extended leeway on criteria for short-term loans and overdraft limits in an effort to assist business and household liquidity.
According to the instructions of the Central Bank, the measures aim to provide easier and direct access to short-term loans to businesses and households to face the current challenges.
Also, again according to the Central Bank, the new facilities could include overdraft facilities and short-term loans with full payment at maturity and not with installments.
Click here for the full Decree (In Greek) Οι-περί-των-Διαδικασιών-Χορήγησης-Νέων-και-Αναθεώρησης-Υφιστάμενων-Πιστωτικών-Διευκολύνσεων-Οδηγίες-του-2016-έως-2020 for further study and clarification.