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Cyprus’ Audit Service will investigate the Independent Social Support Agency, a charitable fund managed by the First Lady, after a report highlighted several donations that raise questions about transparency and possible conflicts of interest.
The report identifies donations from companies and individuals who had business with the state or whose contributions could create an appearance of influence or preferential treatment. While no wrongdoing has been proven, the findings suggest that the current system may not be enough to protect the agency from scrutiny when charity intersects with state power.
Key contributions noted in the report include:
- A company negotiating a long-term state contract contributed nearly €700,000 between 2023 and 2024 (following a €100,000 donation in 2018).
- Another top contributor gave €200,000 annually while involved in a large EU co-financed project exceeding €10 million.
- A company licensed as a credit manager in 2024 donated €50,000 that year and €30,000 in 2023.
- Companies under investigation or settlement processes with authorities contributed €10,000 to €50,000 each.
- Individuals linked to the Cyprus Investment Program (CIP) donated significant sums:
- One person and an associated company gave €235,000 between 2019 and 2024.
- Two companies, tied to the same naturalized person, gave €280,000 from 2018-2021, including €220,000 in 2021 alone.
- The shareholder of these companies contributed roughly €170,000 across 2018-2023.
- A person whose company received a permit for commercial premises donated €200,000 in both 2023 and 2024.
- A foreign individual who renounced Russian citizenship in 2022 and holds two other citizenships donated €250,000 in 2019.
- Three affiliated health-sector companies contributed a total of €90,000 in 2023 and 2024 while awaiting decisions from regulatory authorities.
The Auditor General noted that while private companies often support charities as part of their social work, some contributions raise the appearance of influence or preferential treatment, even if they were independent. The report concludes that the agency’s current management and oversight framework is insufficient to ensure full institutional integrity.
The findings will now be added to the agenda of the Parliamentary Audit Committee, which will review the report and question whether stronger safeguards are needed to prevent potential conflicts between private donations and state-related activities.
