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The Ministry of Finance has proceeded with the classification of approximately 700 financially non-viable borrowers that have applied for the “ESTIA” Scheme, sources told CNA. The “ESTIA” Scheme aims to facilitate fiscal assistance from the Cypriot State to borrowers with non-performing loans secured by a primary residence and to contribute to the deleverage of the non-performing loans of Cypriot banks. Non-performing borrowers that meet certain eligibility criteria will be restructured and granted a state subsidy of 1/3 of the total restructured …
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