articles | 19 August 2021

Cyprus among top EU states on absorption of Cohesion Funds

Cyprus is among the top EU Member States as regards the absorption of funds from the EU Cohesion Funds, according to official European Commission statistics (August 2021).

A press release by the ministry of finance says that Cyprus continues to be among the first EU Member States regarding the absorption of Cohesion Funds, adding that those funds include the sectors of entrepreneurship, employment, energy, information technology, research and innovation, environment, transport, urban development, education and strengthening of social cohesion.

It is added that in this framework, Cyprus has promoted a large number of projects, making full use of the European Union`s development funds. The Ministry further stresses the contribution of the Cohesion Policy in addressing the consequences of the current pandemic through the financing of actions in the fields of health, employment and support for SMEs.

The press release says that the Minister of Finance congratulates the competent services for the excellent work done and underlines that the next challenge is the effective implementation of the “Cyprus Tomorrow” Recovery and Resilience Plan.

Source: In-Cyprus

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