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Cohesion funds to provide stimulus for sustainable growth in Cyprus

07/07/2022 13:11

The support from the EU Cohesion Funds will provide Cyprus with a new stimulus for continued sustainable growth, Commissioner for Cohesion and Reforms Eliza Ferreira said on Thursday.

Ferreira visits Cyprus for the approval of the Cohesion Policy's Partnership Agreement, as well as the operational programme and the Just Transition Plan for Cyprus. The EU funds allocated to Cyprus for the period of 2021 – 2027 amount to about €1 billion, which are accompanied by national funds amounting to €800 million. Cyprus is the first country to have its Cohesion Policy programme approved for access to funds from the European Regional and Development Fund, the Cohesion Fund, the Just Transition Fund and the European Social Fund Plus.

“Cyprus has a very good performance in terms of the use of these funds and we think this new period will give again to Cyprus a good stimulus in getting more free from its dependence on fossil fuels to have development more based on the use of digital and innovation technologies and in fact to make the best use of these funds for the continued, sustainable, growth and development of the Republic of Cyprus”, Ferreira said speaking to the press following a meeting with the President of the Republic Nicos Anastasiades.

Asked on the amount to be allocated to Cyprus for the programme period, the EU Commissioner said that from funding from the Cohesion Policy Cyprus will receive about €1 billion “allocated to different areas from infrastructure to support to biodiversity support, small companies support, innovation, digitalisation and renewable energy on which you can make a huge progress in getting free of dependence on fossil fuels and this is a benefit for everybody.”