The EU is investing in the development of Cyprus

  • 19 декабря 2017 в 16:13:50

The total amount of funds provided by the European Investment Fund (the European Strategic Investment Fund) as of November of this year amounted to 45 million euros, and in 2020 it is planned to finance an additional 81 million euros.

The European Commission recommended that the Republic more actively explore the funds provided (recall that Cyprus is the second position from the end of this indicator). The main areas of these investments should be: the tourism sector, energy (including renewable energy sources) and scientific and technical work. The European Parliament approved the extension of the ESIF activities in the territory of Cyprus until 2020 with the aim of increasing the financing of additional projects that could be of use to the economic and social development of the countries of the European Union.
The main objective of the European strategic investment fund is to invest five billion euros in innovative projects, which are difficult to secure investments, to correct imbalances in investment projects with high risks. Also, these investments should contribute to the creation of new jobs, including for young people.


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