Official launch of 1.8 billion euro investment programme
With Cyprus officially becoming the first country in the European Union to have its full investment programme approved, the Πρόγραμμα Πολιτικής Συνοχής «ΘΑλΕΙΑ 2021-2027». The Programme was signed by the Commissioner for Cohesion and Reforms of the European Commission, Ms Elisa Ferreira and the Minister of Finance, Mr Konstantinos Petrides, in the presence of the President of the Republic, Mr Nicos Anastasiades. Nicos Anastasiades, after referring to the investment pillars of the Programme, expressed his pleasure for Cyprus' success, congratulating the Minister of Finance and his team, and said that the continuous, organised and targeted effort of the Government has brought Cyprus other firsts and successes over the years: firsts in the absorption of the Cohesion Policy Funds and successes in claiming increased funds. He underlined that the "THALIA 2021-2027" programme is a critical tool for further development which, together with the National Recovery and Resilience Plan, will bequeath to future generations the Cyprus of tomorrow. Particular reference was made to the fact that investments are focused on sectors that are also included in the new long-term national development strategy "Vision 2035".
The European Commissioner and the Minister of Finance highlighted the great importance for Cyprus of the approval of the Programme with investments of €1.8 billion, which is co-financed by the European Union and national resources. They pointed out that these investments involve more than 120 Projects and Plans, which will strengthen the effort for change for the better in the Cypriot economy and society.
The "THALIA" Programme lays Foundations for Change, Prosperity, Equality and Development and has been designed to promote smart entrepreneurship, green growth and job creation. Benefits which touch all aspects of development in modern society.
The European Commissioner, after warmly congratulating the Cypriot authorities on their success as the first Member State with a fully adopted Programme, underlined the importance of Cohesion Policy in efforts to further integrate and strengthen the European Union. Continuing, Ms Ferreira highlighted the three main priorities of the Programme which aim at. In conclusion, he underlined that now is the time to move from planning to implementation of projects that will unlock private investment and turn Cyprus into a model of economic growth for all.
In his intervention, the Finance Minister expressed pride in the rapid adoption of the Programme, which will respond to the new challenges, stressing that the preparation was done in cooperation with all relevant Ministries, Agencies, Organisations, Private Sector Bodies, and in continuous consultation with the European Commission. At the same time, he stressed that the Programme is expected to have a positive impact on GDP with an increase of 5.9% and on Employment with the creation of 8,500 new jobs by 2029.
The Commissioner and the Minister of Finance had the opportunity to answer questions from journalists in relation to the Programme and the investments that will be implemented.
At the end of the presentation, attendees had the opportunity to visit an exhibition of co-financed projects.
(MB/SX)
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