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Cyprus Secures €55 Million Investment for Research and National Growth

by THEFUTURE.TEAM

September 25, 2025

Strategic Financial Agreements Propel Innovation

Cyprus has taken a decisive leap in bolstering its research and development capabilities with two strategic financing agreements totaling €55 million. In a ceremony held at the Finance Ministry in Nicosia, Finance Minister Makis Keravnos, European Investment Bank (EIB) Vice President Kyriacos Kakouris, and CING Chief Executive Leonidas Phylactou underscored the power of enduring partnerships. The agreements, which include €5 million for the construction of a new CING research building and €50 million for the Thalia 2021–2027 programme, highlight a shared commitment to national development and sustainable growth.

Boosting Research Infrastructure and Advanced Care

The first agreement, infusing an additional €5 million into the Cyprus Institute of Neurology and Genetics (CING), raises the total EIB support for the institute to €31 million. This initiative, underpinned by a state guarantee and supplementary grant adjustments, will finance the construction of a new building designed to house pioneering research and development projects. As Finance Minister Keravnos noted, this investment is poised to enhance the nation’s research capacity and elevate Cyprus’ performance in global biomedical indicators. Kakouris highlighted the tangible benefits of the project, including advanced patient care and enriched opportunities for scientific research.

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Driving Economic Growth Through Cohesion

The second agreement earmarks €50 million for the Thalia 2021–2027 programme—a cornerstone of the EU cohesion policy in Cyprus. This initiative is forecast to contribute a 5.9% increase in the country’s GDP and generate approximately 8,500 jobs by 2029. Vice President Kakouris emphasized the transformative nature of projects under the Thalia programme, which span from energy management and digital public services to modernizing educational and research infrastructures. These investments are central to the government’s mission to foster a smarter, greener, and more equitable Cyprus.

Strengthening International Ties and Future Prospects

During the ceremony, Minister Keravnos praised the longstanding relationship between Cyprus and the EIB, built on shared values and mutual trust. He also acknowledged Vice President Kakouris’ contributions, noting that his efforts have not only benefitted Cyprus but have also set a precedent for representation by small states at the European Investment Bank. Additionally, CING’s expansion will soon welcome six new research teams, further cementing the country’s position as a hub for biomedical innovation, job creation, and international scientific collaboration.

Conclusion: A Blueprint for Resilient Growth

This dual-faceted investment marks a significant milestone for Cyprus as it cultivates a resilient and sustainable future. With enhanced research infrastructure, robust economic growth, and a commitment to public well-being, Cyprus is poised to become a leading centre for innovation and development in the region.

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Famagusta Expands Digital Tourism Strategy For 2026

Overview Of The Campaign

Famagusta is poised to redefine its international tourism appeal with a sweeping digital marketing campaign set for 2026. The initiative aims to enhance the region’s global image, drive an uptick in tourist arrivals, and extend the peak season well beyond the traditional summer months.

Strategic Partnerships And Collaboration

For the third consecutive year, the campaign is being masterminded by the Famagusta Hoteliers Association in tandem with Etap Famagusta, the Deputy Ministry of Tourism, and the municipalities of Ayia Napa and Paralimni-Deryneia. Notably, the campaign benefits from the support of key financial institutions, including the Bank of Cyprus, alongside a growing network of tourism professionals and local businesses.

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Target Markets And Digital Focus

Utilizing advanced digital marketing tools and robust online advertising, the campaign zeroes in on pivotal European markets such as the United Kingdom, Poland, Germany, Austria, Switzerland, and Sweden, while also reaching prospective tourists in the broader Eastern Mediterranean region. The multi-channel strategy encompasses international social media, digital media platforms, search engines, and specialized tourism websites.

Emphasizing Unique And Year-Round Attractions

The promotional efforts highlight Famagusta’s award-winning beaches, state-of-the-art tourism infrastructure, and the region’s authentic Cypriot hospitality and gastronomy. Special emphasis is placed on a modern tourism product through curated audiovisual materials, thematic content, and initiatives that promote cultural events, sports, and family-oriented as well as experiential holidays across hotspots such as Protaras and Ayia Napa.

A Vision For Sustainable Growth

In line with Etap Famagusta’s ongoing strategy to position the district as a world-class destination, this digital initiative reflects a forward-thinking approach to tourism promotion. By harnessing innovative, targeted tools, Famagusta is set to secure its reputation as a modern, multi-dimensional destination offering quality experiences throughout the year.