Cyprus Calls For New Applications For Apprenticeship Subsidies

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Cyprus Calls For New Applications For Apprenticeship Subsidies

Wednesday, August 18, 2010

As part of the lead-up to its implementation of the New Modern Apprenticeship (NMA) scheme, which aims to replace the traditional apprenticeship pathway (or A-Scheme), the Cypriot government has announced that new applications are now being invited from businesses seeking subsidies for the training of apprentices.

With a budget totalling EUR4,520,000 (approximately USD5,828,028) for the 2010-15 period, the project is jointly financed by the European Social Fund and the government.

The Cyprus Productivity Centre (KEPA), the division of the Ministry of Labour and Social Insurance which is primarily responsible for overseeing apprenticeships, announced in late July that applications for this academic year's portion of the current tranche of funding, which will provide subsidies of between 10-15% of the monthly salary of the member of staff tasked with undertaking the training of the apprentice (depending on the number being trained, and subject to a ceiling), will be assessed on a phased basis.

According to KEPA, applications from employers received by September 30 2010 will be evaluated the following month, applications received by November 30, 2010 will be assessed in January 2011, and employers that request participation in the scheme by March 31, 2011 will receive a response by April 2011.