Cyprus aims to increase co-financing from EU funds

Cyprus aims to increase co-financing from EU funds for projects implemented in the framework of European programs.

The aim of the government is also to increase the number of projects to be included in European programs.

These are the two main objectives of the Government and the competent Ministry of Communications and Works in regard to Cyprus’ participation in European programs under the new EU Multiannual Financial Framework 2014-2020.

A briefing was held on the issue on Friday at the Ministry of Communications and Works under Minister Tasos Mitsopoulos and with the participation of officers of the Ministry, the Planning Bureau and the European Commission Representation in Cyprus.

In statements following the meeting, the Minister of Communications said that they discussed about the new EU Multiannual Financial Framework 2014-2020 and the prospects for Cyprus to increase the rate of co-funding for major development projects but also to increase the resources received from the European funds and programs.

Tasos Mitsopoulos pointed out that the Ministry of Communications and Works, aims to proceed with the implementation of projects in order to achieve two main objectives: the creation of jobs and the restructure of the economy, thus improving competitiveness.