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Cyprus To Invest Over €3 billion On Climate Change By 2030, FinMin Says

by THEFUTURE.TEAM

June 17, 2024

Cyprus’ total investment on climate change in both EU and public funds as well as private investments are estimated to amount to €3.1 billion by 2030, the Finance Ministry has said.

The European Union has set ambitious goals about the green transition, adopting the Green Deal and aspiring to render the Union as climate-neutral by 2040. In this context, the EU has also adopted the “Fit for 55” package which ups the EU interim target of reducing emissions from 40% to 55% by 2030 compared with 1990.

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Moreover, Russia’s invasion of Ukraine and the ensuing energy crisis prompted the EU countries to reconsider their strategy on energy security through alternative credible options, which culminated in the programme RepowerEU, which became an integral part of the Recovery and Resilience Fund.

“The Republic of Cyprus has programmed and utilises EU Funds to promote many projects that contribute to the green transition”, the Finance Ministry said in the Strategic Framework on Fiscal Policy, an annual document that precedes the annual state budget.

EU funds earmarked for green transition projects in Cyprus amount to €1.1 billion coming from the National Recovery and Resilience Plan and the Thalia programme on structural funds.

The Finance Ministry estimated that along with the necessary national contribution and the contribution from the private sector as part of the various subsidy schemes, such as the renovation of buildings and electronic vehicle purchases, total investments will amount to €3.1 billion.

The promotion of a large number of investment projects and reforms with a direct contribution in achieving the green transition, remains a key parameter in the utilisation of the Recovery and Resilience Plan and the Social Cohesion Funds, the Ministry added.

The report also noted that apart from the direct contribution to tackling the impact of climate change and achieving the climate neutrality targets based on the EU Green Deal directives, promoting climate growth is estimated to create new jobs and business opportunities.

Moreover, the Finance Ministry pointed out that Cyprus’ Long-Term Strategy for the economy, also called “Vision 2035” sets a green economy as a basic element for the growth of the Cypriot economy.

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Bitcoin Surges 23% In A Week As Investor Optimism Returns

by News Editor

August 21, 2026

Bitcoin was on track for a weekly gain of around 23% on Friday as a series of positive macroeconomic and policy developments boosted investor sentiment.

The cryptocurrency was trading about 6% higher at roughly $77,000, up from around $62,800 at the start of the week. Crypto-related stocks also rallied, with Coinbase and Circle gaining more than 9%, while Strategy rose 7%.

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Macro Factors Fuel Rally

Bitcoin’s latest surge began Wednesday after Treasury yields fell sharply following a major intervention by the U.S. Treasury in the bond market. Lower yields eased pressure on risk assets and helped trigger a broader move into cryptocurrencies.

The rally was further amplified by a major short squeeze. Around $2.7 billion in crypto short positions were liquidated, according to CoinGlass.

Max Stuedlein, head of Partnerships at Sygnum APAC, said the move reflected an alignment of macroeconomic and policy catalysts, including the Treasury’s decision to increase buybacks of longer-dated government debt.

Clarity Act Boosts Sentiment

Investor confidence improved further on Thursday as the White House and crypto industry leaders made a final push to advance the Clarity Act in the coming weeks.

The legislation is widely viewed as a potential catalyst for the crypto market, although its chances of passing remain relatively limited.

Despite the rally, bitcoin remains well below its 2026 high of $94,820 reached in January and its all-time high of $126,198, set last October.

Analysts See More Volatility Ahead

Lucy Gazmararian, founder and managing partner at Token Bay Capital, said the crypto market may be approaching the end of its bear cycle.

She expects bitcoin could experience one more decline of around 20% before the market turns, pointing to historical cycles and the recent liquidation of heavily leveraged short positions.

Gazmararian also described bitcoin as a long-term hedge against monetary debasement, while warning that its short-term price remains highly volatile and driven by market cycles.