The Republic of Cyprus will draw 1.8 billion euros by 2027 for development projects through the co-financed Thalia 2021-2027 programme
During the signing ceremony of the agreement by the European Commissioner for Cohesion and Reforms, Elisa Ferreira and Finance Minister Constantinos Petridis, the President of the Republic Nicos Anastasiades referred to a new important milestone in the concerted efforts we are making to lead our country to creative and productive reconstruction and overall economic and social transformation within the framework of the Plan "Cyprus-Tomorrow".
"This is because the approval of the 'THALIA 2021-2027', which is a key component of the Plan, marks the official start of the new investment period of the Cohesion Policy, strengthening the foundations we have already laid, aiming at further progress, prosperity, equality and growth."
An important day for Cyprus."
An important day for Cyprus. Today, with the adoption of the Programme #THALEIA 2021-2027, we are laying, Foundations for Change, Prosperity, Equality and Growth. €1.8 billion will be channelled for the development of the Cypriot economy in the period up to 2027. pic.twitter.com/SNiol55Ptw
- Nicos Anastasiades (@AnastasiadesCY) July 8, 2022
The President's speech is self-explanatory:
"Today could only be described as a new important milestone in the concerted efforts we are making to lead our country to creative and productive reconstruction and overall economic and social transformation within the framework of the Cyprus-Tomorrow Plan.
This is because the adoption of the 'THALIA 2021-2027', which is a key component of the Plan, marks the official start of the new investment period of the Cohesion Policy, strengthening the foundations we have already laid, aiming at further progress, prosperity, equality and growth.
It is with great pleasure that I warmly welcome the Commissioner for Cohesion and Reform of the European Commission, Ms Elisa Ferreira, to this special event.
Ms Ferreira, we are honoured by your presence and I believe it is a tangible recognition of the fact that Cyprus is the first country in the European Union to receive final approval to use the full financial envelope of the Cohesion Policy.
The above, in conjunction with the high performance in the absorption of European funds and the successful application for increased funding, is due not only to the organised and targeted efforts of the Government and the close and constructive cooperation we have developed with the Commission, but also to the remarkable human resources of the Public Service, whom I warmly thank and congratulate.
It also proves once again that small Cyprus can pride itself on not falling short of capacity compared to the rest of the partners within the Union.
The total amount for the implementation of the Thaleia Programme is 1.8 billion euro, with a national contribution of 840 million euro.[/B]
A programme aimed at creating a robust and competitive economy through smart, digital and green investments, in conditions of healthy employment and social cohesion, in full compliance with the policies and objectives of the European Union.
In this context, this includes the implementation of more than 120 projects and grant schemes across five policy axes which I will summarise, as the relevant Ministers will have the opportunity in the coming days and weeks to analyse in detail.
The first policy axis, worth €312 million, concerns the transition to the digital era by promoting investment in the areas of Research and Innovation, Digital Transformation and boosting Entrepreneurship, thereby adapting the development of the economy to the needs of the modern era.
The second policy axis, worth €783 million, relates to the rapid transition to the Green Economy, with sponsorship projects and investments in clean energy, circular economy, biodiversity protection, enhancing urban mobility and tackling climate change.
Of these, 187 million euros will be made available through the newly created Fair Transition Fund to further accelerate the acceleration and penetration of Renewable Energy Sources in the country's energy mix, which we all recognise is an urgent priority for the immediate reduction of energy consumption costs for households and businesses, as well as the implementation of our climate neutrality commitments.
The third policy axis, worth €30 million, concerns theenhancement of the interconnectivity of the road network through the completion of the southern perimeter of Nicosia, as well as the decongestion of traffic on the interurban network through the installation of intelligent transport systems.
The fourth pillar, worth €424 million, is linked to the completion of our plans to create an inclusive and just society, focusing on further supporting those who need the assistance and protection of the State.
In addition to what has been accomplished, there should be new programs for greater protection of those in need of support from the State.
Investments are foreseen for employment and training projects for the unemployed and young people, as well asactivation of women in the labour market through the subsidisation of tuition fees in nursery schools for children up to 4 years old.
A plan which I am pleased to report will be implemented next September.
The pillar also includes school social inclusion actions, particularly for children with a migrant background, social integration of people with disabilities through the operation of an Autism Centre, the creation of new assisted living houses and the strengthening of the disability assessment system, as well as the provision of food and material assistance to the needy.
The last axis is linked to the radical reform of local government and the Government's substantial support to this collective effort, through the payment of €182 million to local authorities to improve the quality of life of citizens.
Resources to be allocated to upgrades of open public spaces and spaces for cultural activities, such as squares, parks, amphitheatres and multipurpose centres, as well as to investments in urban mobility infrastructure through the creation of cycle and pedestrian paths.
As I have already mentioned, the provisions of the "THALIA 2021-2027" Programme should not be seen in isolation, but as a complementary and complementary part of the Government's broader and targeted vision for the legacy it will leave to future generations through the Plan "Cyprus - Tomorrow", with the aim of completing the plans for the final elimination of distortions and the holistic, reformist modernisation of the State.
A Plan which includes other important financial instruments, such as the Recovery and Resilience Plan with a total allocation of €1.2 billion, the Common Agricultural Policy, as well as a number of other European financial instruments, which add up to a total of €4.4 billion.
Four billion euros of investment and reform measures, not counting the expected investments of more than one billion euros that will come from private investment or even the annual expenditure of the next budgets that will be allocated in accordance with the provisions of the new growth model.
And limiting myself to the "THALEIA" programme and the wider benefits it will bring to the whole economy and society, it is worth mentioning that an additional 6.0% to the Gross Domestic Product, while 8,500 new, well-paid jobs are expected to be created.
Not counting the additional and incremental related benefits that will result from the other financial instruments and private investments that will result.
In conclusion, I would like once again to express my absolute satisfaction with the adoption of the well documented, well structured, perfectly costed and perfectly costed by policy area "THALIA 2021-2027" Programme.
And it could not be otherwise, as in the context of transparency and participatory democracy, the Programme was the result of consultation and cooperation between the Government, the political forces, the Local Authorities, the economic and social partners, the scientific advisors, but of course also the European Commission and more specifically with Ms Ferreira.
A programme which was also based on the recommendations of the Economic and Competitiveness Council and the State Development Strategy for the next 15 years entitled "Vision 2035".
As, of course, I would be remiss, Commissioner, if I did not thank you and the Services of the European Commission, both for the excellent and close cooperation we have developed and for the constant support of Cyprus' requests for recognition of its special characteristics.
A support that was not limited to the selection of projects responding to local needs with the allocation of increased funds under the European Multiannual Financial Framework, but also extended to the immediate response to the request for reallocation of Cohesion Policy resources to address the consequences of the pandemic and to support workers, businesses and vulnerable groups.
Once again, I congratulate those who contributed to the preparation of the "THALIA" Programme and I invite them to continue with consistency and determination in the implementation of its investment actions, making full use of the 1.8 billion euros allocated to us, as Cyprus has done so far, being considered as one of the first countries to absorb funds."
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