EU financial aid for Cyprus’ energy sector is inadequate

EU financial aid for the energy sector of Cyprus is inadequate, Permanent Secretary of the Cyprus Foreign Ministry Nicholaos Emiliou has said during a meeting of the EU General Affairs and External Relations Council.

According to an official announcement, issued here today, the preparation of the of the Spring European Council that will take place in Brussels on 19-20 March 2009, the European economic revival plan, the Peace Mission in the Middle East, the situation in Afghanistan and West Balkans were among the issue that were discussed today at the Council.

Speaking during the meeting and particularly on the issue of the European economic revival plan, Emiliou noted that the Republic of Cyprus is approaching the plan in a very constructive spirit.

However, Emiliou pointed out that the revised proposal of the European Commission, especially as regards the proposed projects on the energy sector, does not fulfill the necessary criteria for the geographic balance.

“We consider the proposed financial aid of 10 million Euro for Cyprus, as inadequate, due to the fact that the cost for constructing the Energy Centre at Vasiliko, is estimated at 750 million Euro. Thus, the proposed financial aid of the project reaches only the 1.3% of its’ total cost”, he added.