The Central Bank of Cyprus would like to inform the public that, after consultation with the European Commission, the European Central Bank and the International Monetary Fund, the capital needs of the cooperative credit sector are estimated to be up to €1,5 billion. This amount covers the capital needs of all cooperative credit institutions (including the Cooperative Central Bank). The total amount needed for recapitalising the entire cooperative credit sector in Cyprus (i.e. €1,5 billion) will be covered by programme funds.