European Commission funding for Cyprus for the programming period between 2021 and 2027 has increased by over 70 per cent compared to the previous period, Interior Minister Constantinos Ioannou said on Friday.
Addressing the monitoring committee on home affairs funds, he explained that a total of 162 projects were implemented at a total cost of €110.5 million through the European Commission between 2014 and 2020. This grew to a total of €120.7 million with additional funds secured both through the European Union and other sources.
In the current period, he said, this amount has risen to €188m, while the commission has also “already directly approved additional funds amounting to €82m for the implementation of projects related to the effective management of migration”.
Additionally, EU projects in Cyprus will receive a total of €41m in national funding during the current period, bringing the total amount of funding to €311m for the current period.
Ioannou said that so far in the current period, a total of 66 projects have begun, with €140m of funds having been allocated to them.
His comments come days after the European Court of Auditors’ Cypriot member Lefteris Christoforou announced that Cyprus ranks top of the EU in terms of its absorption rate of EU funds.
“Cyprus boasts the top spot in absorbing European funds relating to social cohesion funds, the European Regional Development Fund, the European Social Fund and the Fund for Youth Employment, where Cyprus absorbed €745 million from the previous fiscal framework,” he said.
He added that Cyprus is “35 per cent ahead of the EU average” in the current framework.
President Nikos Christodoulides reacted to the news by conveying his thanks to government organs by effectively absorbing EU funds.
“Not a single cent will be lost from the assistance given by the EU,” he added.
“Essentially this is financial assistance to help us change our country, so that we can keep up with the times, so that Cypriot citizens may benefit, and so that our country’s competitiveness can be boosted.”
