More than one billion Euros in European Union funds will go to Cyprus in the 2021 – 2027 period after the adoption in Nicosia of the Partnership Agreement, the single operational programme and the Just Transition Plan, according to data released by the European Commission on the occasion of Commissioner Ferreira’s visit to the country.
The funds will be used towards the economic and social development of the country and the processes of the green and the digital transitions in ways that would mitigate the impact of these changes in the country’s economy and society.
The partnership agreement between Cyprus and the EU outlines how funds will be used, and will work alongside the programme for the use of funds from the European Regional and Development Fund (ERDF) the Cohesion Fund, the Just Transition Fund (JTF) and the European Social Fund Plus (ESF+).
The Partnership Agreement covers the implementation of the government’s Cohesion Policy operational programme ‘Thalia 2021-27′ and the programme related to the European Maritime Fisheries and Aquaculture Fund, as well as four INTERREG programmes concerning cross border cooperation.
The funds provided under the agreement are as follows according to the Commission’s press release:
– Over 387 million euro from the ERDF will go to the green transition via investments in energy efficiency, renewables and the reduction of carbon emissions, as well as the development of the circular and sustainable economy, the preservation of the local biodiversity and the adaptation to climate change and related events like floods and wildfires.
– Cyprus will also devote €147 million on the digital transition, focusing on the digitalisation of small and medium-sized businesses and connecting national research and innovation systems with business.
– 101 million euro from the JTF to help Cyprus with its energy transition process, including through strengthening energy transmission and distribution systems to allow for storage technologies and transition towards renewable energy. The plans also include the creation of a Green Technical School in Nicosia which will provide upskilling and reskilling to train young people in green technologies and skills.
– The ESF+ will invest 222 million euro in labour market policies and skills development and strengthen social cohesion, through reforms targeted to reinforcing youth support, improving the labour market relevance of education and training, restructuring social welfare services and combatting social exclusion with a significant budget allocation of 87 million for that particular goal.
– 38.3 million euro from the European Maritime Fisheries and Aquaculture Fund to promote sustainable fisheries and the restoration and conservation of aquatic biological resources, sustainable aquaculture, and the development of local coastal fisheries communities and the implementation of international ocean governance.
Source: Cyprus News Agency