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Thursday, February 9, 2023

EU opens the tap for 968 million euros – State investment and projects 1.8 billion by 2027

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The EU opens the tap for 968 million euros - Public investment and projects 1.8 billion by 2027

The Ministry of Finance has targeted 968 million euros for the utilization of the European Structural Funds for the programming period 2021-2027. According to yesterday's presentation of the Minister of Finance Mr. Konstantinos Petridis, for the full absorption of 968 million euros, public investments of a total amount of 1.8 billion euros are planned. Speaking at the presentation held at the Ministry of Finance, Mr. Petridis expressed his satisfaction with the amount allocated to Cyprus for the next programming period, while also emphasizing that, after negotiations, it is 30% increased by the previous one, noting at the same time that in the last seven years Cyprus has managed to have 100% absorption and the effort will be to repeat this.

The € 968 million will be allocated as follows: European Regional Development Fund (€ 467 million), European Social Fund (€ 222 million), Cohesion Fund (€ 178 million) and Fair Transition Fund (€ 101 million).

At the same time, € 1.8 billion will be distributed by category as follows: Business support projects (€ 100 million), research and innovation programs (€ 130 million), public sector digitization projects (€ 85 million), energy projects upgrades (€ 143 million), waste reduction and recycling projects (€ 83 million), water, sewerage and flood control (€ 195 million), urban mobility projects (€ 120 million), biodiversity protection projects (€ 20 million). Fair Transition Fund (EUR 167 million), employment (EUR 144 million), education and training (EUR 103 million), social inclusion and the fight against poverty (EUR 177 million), local government projects (EUR 160 million) . euro).

More about the issue in the printed version of “P” and for the subscribers of POLITIS PREMIUM the digital version of the newspaper in PDF at the same time with its printed circulation daily from 05.00 in the morning.

Source: politis.com.cy

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