The Republic of Cyprus also received €119.8 million from the Recovery and Resilience Facility last Friday, as stated in a written statement by the President of the Republic, Nicos Christodoulides.
With this new disbursement, our country’s total receipts amount to €709 million, or 70% of the total €1.02 billion. With the final disbursement expected in December, total receipts are expected to reach approximately €992 million, representing a very high absorption rate of 97.3% of the total amount.
ΣΧΕΤΙΚΑ ΑΡΘΡΑ
“This progress is the result of systematic and intensive work. Close monitoring of timelines, daily coordination between ministries and agencies, and continuous evaluation of the progress in implementing each milestone and each project,” as the President emphasizes, noting that the goal was clear: “to ensure that neither time nor available European funding is wasted and, above all, that the resources are transformed into tangible results for the economy and society.”
The Plan was finalized in August 2026 with 221 milestones and targets and 61 major reforms, according to the President of the Republic, through infrastructure projects totaling approximately €600 million and 40 grant programs amounting to €420 million:
- More than 850 businesses received support, and 300 research and innovation projects were funded.
- Approximately 50,000 homes were equipped with solar panels, including 7,000 vulnerable households.
- Approximately 4,300 citizens received grants for electric vehicles.
- Approximately 90,000 properties were upgraded for connection to high-speed networks.
- 4,800 children received tuition subsidies for preschool education.
- 750 employers received support for hiring unemployed individuals.
At the same time, projects that “benefit the local community” were completed: the Pancyprian Blood Center, upgraded hospital infrastructure, solar panels and thermal insulation in 405 schools, multi-purpose centers for children, two model special education schools, smart water and electricity meters, and the CY ALERT early warning system.”
The completion of the Plan was the result of a collective effort, according to Mr. Christodoulides, who expresses his heartfelt thanks to all the Ministries, Deputy Ministries, Departments, and Agencies, local authorities, social partners, and everyone who worked to implement it. He extends special thanks to the Ministry of Finance and the General Directorate of Development for their crucial coordinating role, as well as to the House of Representatives for its contribution to the timely passage of important reforms linked to the completion of the Plan.
“A major European opportunity has been transformed into concrete projects, reforms, and investments. Through systematic work, close monitoring, and consistent implementation, these goals are being transformed into tangible results that benefit society and the economy.”
