Around 800 new businesses and more than 1,600 jobs are expected to be created in Cyprus through a €30 million EU cohesion policy scheme supporting new business activity.
Themis Christophidou, Director-General of the European Commission’s Directorate-General for Regional and Urban Policy, outlined the investment at the Cyprus Forum on Tuesday, alongside other EU-funded projects under way across Cyprus.
EU develops ‘right to stay’ strategy
Christophidou also discussed the EU’s “right to stay” initiative, noting that one in three Europeans, almost 150 million people, live in areas that have lost population over the past two decades.
A similar number live in areas that have experienced economic decline, she said. Young people and skilled workers are often forced to leave their communities because of a lack of jobs, opportunities and services.
The European Commission is preparing a “right to stay” strategy, expected to be presented early next year. More than 700 submissions have been received from stakeholders during the consultation process.
The strategy will focus on creating conditions that allow people to build their futures where they live, including through quality jobs, education, infrastructure, public services, transport and digital connectivity.
€13 million for University of Cyprus laboratories
Turning specifically to Cyprus, Christophidou said €13 million in cohesion policy funding is being invested in engineering research laboratory facilities at the University of Cyprus.
Almost €3 million is being allocated to restore three historic municipal buildings in Limassol, while €2 million is being invested in Salina Municipal Park in Larnaca.
A further €44 million is being invested in upgrading public passenger transport infrastructure and supporting the transition to electric mobility.
Christophidou added that almost €2 million has been invested in the integrated “Evagoras” information system, aimed at developing digital municipal services.
Source: CNA
