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Cyprus Bets On EU-Funded Project To Solve Water Scarcity

A groundbreaking European initiative is poised to address Cyprus’ longstanding water challenges. Backed by Horizon 2030 and uniting 39 partners—including the Department of Water Development and the Larnaca Sewerage Board—the Water-Mining project is redefining the potential of desalinated water in drought-prone regions.

Turning Desalination Into A Sustainable Solution

Cyprus relies heavily on desalination, with approximately 70% of its drinking water sourced from these facilities. However, the process is energy-intensive and produces significant brine waste. Enter the Water-Mining project, which leverages innovative scientific methods to transform this byproduct into valuable industrial materials—reducing waste, cutting energy consumption, and increasing the island’s overall water availability.

One of the key figures behind this initiative is Associate Professor Demetris Xevgenos from the Technical University of Delft, who serves as the project’s executive coordinator. He recently presented the results in Lampedusa, Italy—an island entirely dependent on desalination—with overwhelmingly positive feedback. Now, Cyprus is next in line for evaluation and implementation.

From Concept To Implementation

The project, already scientifically advanced, was showcased in Nicosia last November to key stakeholders. The next phase involves a European-level evaluation, with plans to launch the initiative at the Cyprus Electricity Authority’s Vasiliko site. While tendering and commercial management discussions are ongoing, this initiative represents a major step forward in optimizing desalination efficiency.

As climate change intensifies, initiatives like water mining could become essential in securing Cyprus’ water future, ensuring that the island maximizes every drop of its most precious resource.

FinTech’s Dominance In MENA: Three Strategic Drivers Behind Unyielding VC Success

Despite facing tightening global liquidity and macroeconomic headwinds, the FinTech sector continues to assert its leadership in the MENA region. In the first half of 2025, FinTech emerged as the most resilient and appealing arena for venture capital investments, proving its worth as a catalyst for financial innovation and inclusion.

Addressing Structural Financial Gaps

In many parts of MENA, a significant proportion of the population remains underbanked and underserved by traditional financial institutions. FinTech companies are uniquely positioned to address these persistent challenges by bridging critical access gaps and driving financial inclusion. With the proliferation of payment apps, digital wallets, and micro-lending platforms, investors have witnessed firsthand how these solutions pave the way for scalable growth and eventual exits. Early-stage momentum in the region is underscored by a doubling of pre-seed deals year-over-year, reinforcing the sector’s capacity for rapid innovation and sustainable expansion.

Highly Scalable and Replicable Business Models

One of the key factors behind FinTech’s dominance is the inherent scalability of its business models. Once the necessary infrastructure and regulatory approvals are in place, these models have demonstrated robust performance across borders. The first half of 2025 saw a marked acceleration in deal activity, with payment solutions leading the charge with 28 deals in MENA—a significant increase over the previous year. Lending platforms, in particular, experienced a meteoric 500% year-over-year increase in funding, emerging as the fastest-growing subindustry. Such replicability makes FinTech an attractive proposition for investors seeking high-growth opportunities in diverse markets.

Supportive Regulatory And Government Backing

The strategic support offered by key government initiatives in the UAE and Saudi Arabia has been instrumental in propelling the FinTech sector forward. Progressive frameworks, such as the UAE’s open finance and digital asset directives, coupled with Saudi Arabia’s live-testing sandboxes, have materially lowered entry barriers for startups. These measures not only foster innovation but also streamline the path to commercialization. Consequently, the combined efforts of these regulatory bodies have enabled the UAE and Saudi Arabia to account for 86% of MENA’s total FinTech funding in H1 2025.

The resilience of FinTech in MENA is not merely a reflection of contemporary market trends—it signals a fundamental shift in the region’s economic fabric. With an unwavering commitment to addressing real financial challenges, scalable and replicable business practices, and robust regulatory support, FinTech is setting the benchmark for sustainable innovation. As capital markets become increasingly discerning, this sector stands out as a beacon of long-term growth and transformative impact.

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