Every region and country in the EU benefits from Cohesion Policy, via the direct effects of the investments and/or the indirect effects like increased trade.
It is estimated that €1 of Cohesion Policy investment during 2007-2013 will generate €2.74 of additional GDP by 2023.
Between 2007 and 2013, European Regional Development Fund and Cohesion Fund support amounted to €493 million in Cyprus, with Investments mainly made in the areas of Environment, Enterprise support, Urban development, Culture and tourism.
Among the key achievements of Cohesion Policy investments in Cyprus was an almost 10% increase in the proportion of recycled solid waste.
In addition, close to 1600 full time jobs were created, of which 570 in research, and 308 projects to help firms finance investments were set up.
In terms of research and innovation, nearly 220 cooperation projects were established between enterprises and research centres.