Cyprus Takes Bold Step Towards Cancer Care With New €10M Pediatric Oncology Clinic

by THEFUTURE.TEAM

February 17, 2025

In a transformative leap for children’s healthcare, Cyprus is set to break ground on a new Pediatric Oncology Clinic in Nicosia, following the signing of a €10 million agreement at the Presidential Palace. The clinic, backed by the Cleanthous Foundation, promises to elevate the island’s cancer care to international standards, offering hope and advanced treatment for young patients battling cancer and hematological diseases.

President Nikos Christodoulides, who attended the agreement ceremony, hailed the project as an “investment in life, hope, and the future.” The deal was officially sealed by Health Minister Michalis Damianos, State Health Services Organisation (Okypy) President Marinos Kallis, and Maria Charalambidou, the President of the Cleanthous Foundation. The new clinic will be strategically located on state-owned land near Makarios Hospital, with Okypy overseeing its management once completed.

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This initiative is poised to make Cyprus a regional leader in pediatric cancer care. As President Christodoulides noted, with the Cleanthous Foundation’s contribution, the island could become a vital hub for the treatment of childhood cancer, extending its influence far beyond its borders. The foundation’s commitment, he emphasized, is a gift not only to Cyprus but to the entire region.

Maria Charalambidou, in her address, shared the foundation’s vision of not only providing top-tier medical treatment but also fostering a nurturing environment where children can continue to learn and grow. The clinic’s design includes dedicated research spaces, reflecting the foundation’s aim to enhance Cyprus’ role in childhood cancer research.

Okypy’s Marinos Kallis also provided important context, revealing that approximately 42 new cases of childhood cancer are diagnosed each year in Cyprus. Alarmingly, there has been a notable increase in thyroid cancer among adolescents, particularly girls aged 15 to 19. However, the good news is that the cure rate for childhood cancers in Cyprus stands at an impressive 100%.

This €10 million project is more than just a clinic—it symbolizes hope, innovation, and compassion for the youngest patients facing their toughest battles.

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Central Bank Of Cyprus Balance Sheet Reflects Strong Eurosystem Position

by THEFUTURE.TEAM

February 17, 2026

Overview Of Financial Stability

The Central Bank of Cyprus (CBC) has released its latest balance sheet, reaffirming its steadfast role within the Eurosystem. The balance sheet, featuring total assets and liabilities of €29.545 billion, underscores the institution’s stable financial posture at the close of January 2026.

Asset Allocation And Strategic Holdings

Governor Christodoulos Patsalides issued the balance sheet, which details the CBC’s asset composition under the Eurosystem framework. Notably, the bank’s gold and gold receivables amounted to €1.635 billion, providing a significant hedge and stability to its balance sheet. Additional asset categories include claims on non-euro area residents denominated in foreign currency at €1.099 billion, while claims on euro area residents in both foreign and domestic currency add further depth to its portfolio.

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The most substantial asset category, intra-Eurosystem claims, reached €19.438 billion, an indication of the CBC’s deep integration with its European counterparts. Furthermore, euro-denominated securities held by euro area residents contributed €6.587 billion. Despite a marked emphasis on these areas, lending to euro area credit institutions in monetary policy operations recorded no activity during the period.

Liability Structure And Monetary Policy Implications

On the liabilities side, banknotes in circulation contributed €3.218 billion. Liabilities to euro area credit institutions associated with monetary policy operations were notably the largest single category, totaling €17.636 billion. Supplementary liabilities included those to other euro area residents, which aggregated to €4.989 billion, with government liabilities playing a predominant role at €4.754 billion.

Other liability items, such as claims related to special drawing rights allocated by the International Monetary Fund at €494.193 million, and provisions of €596.571 million, further articulate the CBC’s exposure. Revaluation accounts stood at €1.643 billion, and overall capital and reserves were confirmed at €333.822 million, completing the picture of a well-capitalized institution.

Conclusive Insights And Strategic Alignment

The detailed breakdown illustrates the CBC’s sizeable intra-Eurosystem exposures, reinforcing its central role within Europe’s monetary landscape. With an asset-liability balance maintained at €29.545 billion, the CBC’s financial position remains robust, indicating a commitment to structural stability and strategic risk management.

This fiscal disclosure not only provides transparency into the CBC’s operations but also serves as a benchmark for comparative analysis among other central banks within the Eurosystem, highlighting the intricate balance between asset liquidity, regulatory oversight, and monetary policy imperatives.

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