Nicosia:European Union funding, available through the EU cohesion policy, is set to aid the establishment of approximately 800 new businesses and create more than 1,600 jobs in Cyprus, as stated by Themis Christofidou, Director-General of the European Commission's Directorate-General for Regional and Urban Policy.
According to Cyprus News Agency, Christofidou highlighted the EU initiative on the 'right to stay' at the Cyprus Forum. She noted that one-third of Europeans, nearly 150 million people, reside in regions that have experienced population decline over the past twenty years. Many areas have faced economic downturns, prompting young, skilled workers to leave due to scarce job opportunities and services.
Christofidou emphasized that the 'right to stay' aims to provide reasons for people to remain in their communities by improving quality jobs, education, infrastructure, and public services. The European Commission is developing a strategy on this initiative, with over 700 stakeholder contributions received during consultations. The strategy, focusing on education, is expected to be unveiled early next year. Universities play a crucial role in this by offering high-quality education, fostering innovation, and enhancing regional competitiveness.
Specifically regarding Cyprus, Christofidou mentioned EU cohesion policy investments, including £13 million for engineering research facilities at the University of Cyprus and £30 million for new business development, which will generate around 800 new enterprises and over 1,600 jobs. Other investments include nearly £3 million for the restoration of historic buildings in Limassol, £2 million for Larnaca's Salina Municipal Park, and £44 million towards upgrading public transport infrastructure and supporting electric mobility.
Additionally, almost £2 million has been allocated for the 'Evagoras' integrated information system, enhancing digital municipal services to facilitate citizen interaction with local authorities. Christofidou underscored the interconnected nature of education, jobs, local services, public spaces, mobility, and digital access. These elements form the essential conditions for individuals to build their lives and futures in their home regions, a core aim of the cohesion policy.