Republic of Cyprus Second Voluntary National Report - Sustainable development goals

73 average, of 12.6%. Importantly, both indicators show an inverse-U shape trend between 2010 and 2019 capturing the economic conditions in Cyprus during this period. A similar pattern, in terms of size and trend is observed for the decent work indicators. Specifically, Cyprus ranks 18 th in the number of people killed in accidents at work per 100,000 employees (2.3 employees in Cyprus, and 1.8 employees in the EU), 11 th in the percentage of employees with an equivalised disposable income below the risk-of-poverty threshold (6.7% in Cyprus, and 9% in the EU), and 22 nd in the percentage of employees who could not find a permanent job (12.8% in Cyprus, and 7.9% in the EU). The improvements in the trend in all the aforementioned indicators shows the effectiveness of policies aimed at mitigating the effects of the economic crisis. GOVERNMENT INITIATIVES Promoting a NewGrowth Model • An ambitious investment plan of more than €3.6 billion is being prepared for the period up to 2030, drawing significantly on European Funds, focusing on all three main pillars of environment, economic and social development. Strong Support to Mitigate Covid- 19 Impact on the Economy • A generous package of €2.6 billion amounting to 12.5% of GDP has been adopted to mitigate the pandemic’s impact on employment and growth. Key initiatives include subsidisation to enterprises for wage and loss of activity substitution as well as subsidies to the self- employed. Enhancement of the Capacity of the Public Em- ployment Services (PES) • A series of measures to boost PES are currently under way in the framework of the project “Further Enhancement and Modernisation of PES II” (co-funded by the European Structural Funds). Employment of Young People (aged -15-29 years old) Not in Employment or in Education or Training (NEETs) • A scheme is promoted with a budget of a €10 million aiming to increase the employment opportunities of NEETs through the economic support of employers, to create new jobs, and to support youth to upgrade their digital competence and efficiency. • The Scheme for the Employment and Training of Tertiary Education Graduates provides opportunities to tertiary education graduates who are under 30 years old to secure a suitable job and acquire work experience and specialised knowledge and skills. Schemes Facilitating the Creation of NewJobs • Wage Subsidies Schemes: Seven schemes were implemented during the period 2016 – 2020 which aimed towards helping employers hire unemployed persons. The schemes were addressed to the needs of those unemployed over 50 years old, the disabled, those suffering from chronic diseases, and recipients of GMI – (Guaranteed Minimum Income). • The System of Vocational Qualifications (SVQ) has been designed for: – The assessment and certification of the competence of a person, to carry out a specific job in real or/and simulated working conditions and for facilitating training programmes. – The Standard Multi-Company Training Programmes for retraining of employed persons. Promotion of Employment Equality Among Persons with Disabilities • The following services are provided by the Department for Social Inclusion of Persons with Disabilities: – Scheme of providing financial assistance to persons with disabilities for the purposes of creating small units/enterprises. Scheme of subsidising organisations, which employ persons with disabilities to provide supported employment programmes. The Vocational Training Scheme which funds persons with disabilities with an amount of up to €1.708,60 in order to get training courses of their own choice, which will increase their employment possibilities.