Based on a Decision of the Council of Ministers dated 3 June 2015, the Treasury of the Republic of Cyprus has been charged with the responsibility for managing and coordinating all pertinent procedures pertaining to State Guarantees.
For the effective management of State Guarantees, the Loans and Guarantees Directorate carries out the following tasks:
· Applies the governmental policy for the issuance of new guarantees;
· Manages the State Guarantees, including the assessment of the financial risk of the Cyprus Government in relation to State Guarantees, and keeps a Register of all Guarantees; and
· Manages the payment of guarantees when the case arises, and arranges for the recovery of the amounts pertaining to the payment of State Guarantees.