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Lefteris Christoforou, a member of the European Court of Auditors (ECA), noted on Tuesday the opportunities for EU grants and loans from Cyprus, saying that the Republic should target the absorption of €960 million in grants and €260 million in loans from the EU.
Speaking after a meeting with the President of the Republic, Nikos Christodoulides, in Nicosia, Christoforou underlined the Presidents will and the determination in order for Cyprus to claim and absorb the funds that will be provided to us through the Recovery and Resilience Plan.
Furthermore, he highlighted the importance for Cyprus to have at its disposal approximately €960 million in grants from the EU through the recovery mechanism, along with another €260 million in loans, which, he said, can benefit Cypriot society and the Cypriot economy.
We had an in-depth discussion so that the Republic of Cyprus succeeds again in absorbing all the funds, he noted, stressing that Cyprus is among the first four EU countries that managed to have the highest level of absorption in the previous EU financial framework, and we hope that in the new fiscal framework, Cyprus will once again play a leading role.
Christoforou stated that President Christodoulides supports the work and efforts of the European Court of Auditors. We will also try to do everything in our power, so that Cyprus may, within these operating rules of the European Court of Auditors, proceed with the proper utilisation of all EU funds, he concluded.
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