According to official statistics from the European Commission (August 2021), Cyprus continues to rank among the EU Member States in the absorption of funds from the Cohesion Funds.
These funds target, inter alia, the areas of Entrepreneurship, Employment, Energy, Information Technology, Research and Innovation, Environment, Transport, Urban Development, Education and Enhancing Social Cohesion.
In this context, Cyprus has promoted a large number of projects, making full use of the European Union’s development funds, guided by the progress of the economy and society, but also to achieve the country’s strategic development goals.
Also of major importance is the Cohesion Policy’s contribution to combating the effects of the current pandemic by funding actions in the areas of health, employment and SME support.
The Minister of Finance expresses his special satisfaction and congratulates the competent services for the excellent work that has been achieved, resulting in the decisive contribution of these funds to the development policy of the State. At the same time, he emphasizes that the challenge now is the effective implementation of the “Cyprus Tomorrow” Recovery and Resilience Plan.
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