Cyprus to receive EUR800 mln from EU funds

Cyprus will receive a total of 800 million euros for the period of 2007 – 2013 through the European Union’s Structural Funds and Agricultural Development Fund, President of the Cyprus Planning Bureau Andreas Moleskis said, adding that with the contribution of the Republic of Cyprus this sum could reach one billion euros.
Speaking at a joint press conference with Cyprus Chamber of Commerce and Industry (CCCI) President Manthos Mavrommatis, from the 800 million euros, 160 million will be coming from the Agricultural Development Fund and 640 million from the Structural Funds, and will be allocated for the competitiveness of the Cypriot economy including infrastructure works and human resources development.
Moleskis stressed that ”the primary objective is the full absorption of the European grants,” adding that so far this objective is met in full since not a single euro was lost from the European funds during the period 2004 – 2008.
”Our aim is that not a single euro will be lost from the structural funds,” he added, noting that this aim requires a publicity campaign so that all this information can reach the social partners.
In his remarks, Mavrommatis pointed out the need for special focus on new infrastructure.
”Research and innovation are the new challenges to which we must respond to be able to produce products and services of high added value, which could compete within the globalised environment,” he added.
Moleskis and Mavrommatis gave the press conference in view of the last event hosted by CCCI and the Planning Bureau, next Monday in Limassol, in the presence of EU Regional Policy Commissioner Danuta Hunner and Cypriot Minister of Finance Michalis Sarris, who will address the event.