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Cyprus to Allocate €1.2 Billion for Co-Financed Projects Over the Next Three Years

by THEFUTURE.TEAM
September 25, 2024

The government of Cyprus has announced plans to allocate €1.2 billion for co-financed projects over the next three years. These projects, supported in collaboration with the European Union, are aimed at promoting economic growth, modernising infrastructure, and fostering sustainability across key sectors of the Cypriot economy.

This funding aligns with Cyprus’ strategic goals, particularly in driving green development, digital transformation, and social welfare improvements. The projects will draw from EU financial instruments such as the Recovery and Resilience Facility (RRF) and the Cohesion Fund to help member states meet their economic and environmental targets.

Distribution of Funds Across Ministries

  1. Ministry of Transport, Communications, and Works: A significant portion of the funds will be directed toward improving Cyprus’ infrastructure. Investments will focus on upgrading the road network, enhancing public transportation, and modernising ports and airports to boost trade and connectivity. Additionally, there will be a strong emphasis on sustainable transport solutions, including infrastructure for electric vehicles and the adoption of smart transportation technologies to reduce carbon emissions and enhance efficiency.
  2. Ministry of Energy, Commerce, and Industry: As Cyprus continues its shift towards renewable energy, this ministry will benefit from substantial funds to expand renewable energy capacity, particularly solar and wind projects. The investments will also support energy efficiency initiatives across industries and the public sector, accelerating Cyprus’ decarbonisation efforts. By reducing reliance on fossil fuels, Cyprus is working to meet its EU climate commitments and strengthen its energy security.
  3. Ministry of Education, Culture, Sport, and Youth: Co-financed projects will focus on modernising educational infrastructure and expanding digital learning platforms. The aim is to prepare students for the digital economy through improved access to technology and innovative learning tools. Investments will also support research and innovation, fostering a culture of creativity and preparing youth for future economic challenges. In the cultural and sports sectors, funds will be allocated to enhancing facilities and promoting social inclusion through cultural and athletic initiatives.
  4. Ministry of Agriculture, Rural Development, and Environment: A portion of the budget will be dedicated to sustainable agricultural practices, water management, and environmental protection. Projects in this ministry will aim to enhance biodiversity, reduce environmental degradation, and support the country’s transition to greener, more sustainable farming methods.
  5. Ministry of Labour, Welfare, and Social Insurance: This ministry will focus on social welfare improvements, including expanding healthcare services, and social housing, and providing more robust support for vulnerable populations. These projects aim to ensure that economic growth benefits are distributed equitably across society.

Cyprus’ €1.2 billion allocation for co-financed projects highlights the government’s commitment to sustainability, economic growth, and social development. 

Kuwaiti Ambassador Advocates For Strengthened Ties Between Cyprus And GCC Nations

by THEFUTURE.TEAM
February 5, 2025

The Kuwaiti Ambassador to Cyprus, Abdullah Musaed Al-Khorafi, has underscored the vital need to deepen dialogue between Kuwait, Cyprus, and the Gulf Cooperation Council (GCC) nations, as well as the broader Arab world. He made these remarks during a luncheon held at his Nicosia residence on February 4, which brought together key diplomatic figures.

The event was hosted in honor of Annita Demetriou, President of the House of Representatives of Cyprus, and was part of a series of high-level diplomatic gatherings organized by the Kuwaiti Embassy in Cyprus. Among the attendees were the ambassadors and heads of Arab diplomatic missions in Cyprus, as well as representatives from the U.S. and Swiss embassies.

Ambassador Al-Khorafi took the opportunity to lead an expanded discussion on pressing regional and international developments, focusing particularly on the Middle East. Topics included the ongoing crises in Syria, Lebanon, and Palestine, with a strong emphasis on how these events affect regional stability.

The luncheon also served as a platform for talks on enhancing cooperation between Cyprus and GCC countries, as well as broader Arab nations. The discussions highlighted opportunities to strengthen ties in key sectors such as education, culture, trade, investment, and tourism. The aim is to build closer connections between people and foster mutual benefits.

In his opening speech, Ambassador Al-Khorafi stressed the importance of promoting dialogue at both governmental and societal levels, not only between Kuwait and Cyprus, but across the entire GCC and Arab world. He expressed his gratitude for the presence of President Demetriou, noting that her participation symbolized Cyprus’ commitment to advancing relations with Kuwait and its regional partners.

President Demetriou, in turn, thanked the ambassador for his hospitality, reflecting on the fruitful discussions and shared goals for enhancing Cyprus’ relations with Kuwait and the wider Arab world. She reaffirmed the importance of cooperation and strategic partnerships between Cyprus and the GCC countries, especially in areas of mutual interest and concern.

This meeting, according to Demetriou, was a testament to the strong diplomatic relations between Cyprus and Kuwait, as well as the ongoing efforts to broaden and deepen ties with the Arab world.

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