ΘΑλΕΙΑ 2021-2027

Cyprus ranks among the First Countries as regards the Absorption of EU Funds

According to the official statistics of the European Commission (January 2023 – Cohesion Open Data Platform), for the programming period 2014-2020, Cyprus remains among the first EU countries as regards the absorption of funds from the EU Cohesion Policy Funds. More specifically, Cyprus ranks 5th with a percentage of around 90%, which is more than the EU average (78%).

2014-2020_CohesionPolicyEUpaymentsbyCountry_05012023

Cyprus is on the way for full absorption of funds from the Cohesion Policy Funds – Ranking of Cyprus among EU countries

On  January 5, 2023, the European Commission published the results of the funds absorption of the Cohesion Policy for the programming period 2014-2020.  According to this data, Cyprus is among the first countries (fifth), steadily above the average percentage of the EU.  More specifically, Cyprus has absorbed 90% of the available resources for the programming period 2014-2020.

As the Managing Authority of the Cohesion Policy Programmes, we are completely satisfied and we ensure that after the completion of the programming period on  December 31, 2023, Cyprus will absorb the total allocated funds.

At the same time, we remain focused at the completion of the projects that improve the quality life of Cypriots. These concern projects for strengthening entrepreneurship (support of the small-medium enterprises for modernisation and technological upgrade, promotion of innovative products and digital upgrade), development of transport infrastructures (vertical road of Limassol Port with the Limassol – Pafos Highway), projects for environmental protection (management of NATURA 2000 sites in Akamas, reduction and recycle of municipal waste), projects for climate change 

(flood-relief works and projects for shores protection against corrosion), energy upgrade of houses and enterprises, e-government funding (information system for GESY), and also funding for development actions for the local authorities (Eleftheria Square).

Alongside, a significant part of the funds were spent in 2020 and 2021 for the support of the enterprises and employees for the confrontation of the economic impacts of the pandemic, but also for actions dealing with the pandemic (purchase of vaccines).

Last but not least, it is important to highlight that the absorption indicators and good performances are not the end of the road, but an important point of reference. The developmental needs of our country remain a lot and multidimensional, and towards this direction, the Cohesion Policy Programme “THALIA 2021-207” has been prepared, with total budget of €1.8 bil., which will contribute significally to development and employment.

Directorate General Growth
January, 2023 

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