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The ESM financial assistance programme for Cyprus ended on 31 March 2016. The euro area countries agreed to a package of financial assistance of up to €10 billion for Cyprus in 2013, with the ESM financing up to €9 billion and the IMF around €1 billion. Thanks to a better-than-expected economic recovery, private investors’ participation in bank recapitalisation and a return to market financing, however, the full amount was not needed. The ESM disbursed €6.3 billion, and the IMF a further €1 billion.