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Cyprus Unveils Measures to Protect Water and Boost Agriculture

At the Provincial Agricultural Office of Paphos, Minister of Agriculture, Rural Development and Environment Maria Panagiotou detailed a series of decisive measures approved by the Cabinet. These initiatives seek to overhaul the nation’s water management policies and bolster fire prevention in rural areas, addressing the twin challenges of severe drought and climate-driven extremities.

Holistic Approach to Water Management

Following extensive consultations with local agricultural stakeholders and producers, Minister Panagiotou underscored that the transformation of irrigation practices relies on comprehensive water resource management. In a period marked by one of the worst droughts in Cyprus’s history, the government has charted a new course toward sustainability through substantial investments, technological innovations, and active community engagement.

Advancing Desalination and Infrastructure Investments

A pivotal component of the new water strategy is the shift to relying predominantly on desalinated water. For the first time, the 2026 budget proposals include over €140 million dedicated to the procurement of desalinated water, marking a strategic move away from previous practices that diverted valuable supplies away from irrigation. Key elements of the plan include:

  • The cessation of reserve desalination usage by dedicating desalinated water exclusively for water supply, thereby reserving dam storage for irrigation purposes.
  • Activation of four mobile desalination units at strategic locations—Moni, Limassol Port, Kissonerga, and Garrulis—with a target daily output of 47,000 cubic meters by January 2026.
  • Commissioning three new desalination units in Episkopi, Vasiliko, and Ammochostos to elevate daily production to 77,000 cubic meters and enhance supply capacity by 32%.
  • Establishment of permanent desalination facilities in free Ammochostos and Eastern Limassol, designed to operate on renewable energy sources by 2029.
  • An investment of €200 million in maintenance, network upgrades, and loss reduction projects.
  • Strengthening of the Water Development Department with 54 new recruits since 2023 and the rollout of the “Stagonometro” monitoring initiative in collaboration with KOIOS to track water consumption.
  • A comprehensive review of Cyprus’s water policy and planning through 2050 to recalibrate long-term national targets.

Minister Panagiotou noted that 37% of agricultural water needs are already met by reclaimed water—a historic record for Cyprus—and additional projects in Larnaca, Nicosia, and Aradippou are expected to further raise this percentage.

Wildfire Prevention and Revitalization of Abandoned Agricultural Land

In a parallel effort to mitigate wildfire risks and support rural prosperity, the Cabinet approved a package of measures totaling €5.25 million aimed at activating abandoned farmlands. This initiative is designed not only to reduce wildfire hazards by cutting back on combustible biomass but also to stimulate agricultural activity. The State Support Plan, with a budget of €4.1 million, offers:

  • Up to €1,414 per decare for rehabilitating neglected or abandoned agricultural land.
  • Additional support of up to €60 per decare for sustaining reforested plots with permanent dryland plantations.

Under the LEADER program, which is allocated €1.15 million, further funding will support the acquisition of firefighting and fuel-cleaning equipment by rural communities and the implementation of controlled grazing in areas susceptible to wildfire risks. Minister Panagiotou emphasized that these measures, financed for the first time, are emblematic of the government’s commitment to empowering local communities and protecting Cyprus’s environmental and agricultural heritage.

Long-Term Vision and Call to Action

Highlighting the unprecedented nature of the current drought, Minister Panagiotou stated, “This drought may be the worst our nation has ever experienced. We are not sugar-coating the facts, and our actions reflect our steadfast commitment to resolving these issues.” The Minister stressed that practical and sustained efforts are crucial to eliminating water wastage and ensuring an abundant water supply for all citizens, communities, and producers. The government’s resolute approach, which includes immediate operational enhancements and long-term strategic reforms, is set to deliver concrete, wide-reaching benefits for the nation’s water security and agricultural resilience.

Ensuring a Secure Hydrological Future

The comprehensive reforms, ranging from the reallocation of desalinated water to multi-million euro infrastructural investments and robust fire prevention strategies, aim to secure both the present and future of Cyprus’s water resources and agricultural potential. This decisive policy shift stands as a testament to the government’s leadership, unwavering determination, and pursuit of long-term sustainability in the face of escalating climatic challenges.

Cyprus-Based ASBIS Hits Record $1.05bn In Monthly Revenue, Up 216% Year On Year

The technology distributor ASBIS Group, headquartered in Limassol, has exceeded $1 billion in monthly sales for the first time in its history, reporting preliminary consolidated revenue of $1.05 billion in September 2026, more than three times the amount recorded a year earlier.

The figure represents a 216% increase from $332 million in September 2025, making it the highest-revenue month in the company’s history.

ASBIS reported its strongest sales growth in servers and server components, while CEO Serhei Kostevitch pointed to growing demand for artificial intelligence solutions and computing infrastructure as an opportunity for the business.

For a company operating across Europe, the Middle East and Africa, September marked a new sales milestone following several months of substantial year-on-year growth.

Kostevitch attributed the record performance to the group’s existing operations, highlighting its broad product portfolio, international market presence and strong relationships with manufacturers and trading partners.

“Most importantly, this result is the outcome of our regular operating activities,” he said.

The CEO also highlighted the company’s portfolio of projects as a reason for confidence in continued AI-related development.

However, the group’s growth was not limited to AI-related technologies. Smartphones also performed strongly in September, with Kostevitch stressing that “we are growing beyond the AI segment as well.”

Kazakhstan, the United Arab Emirates and Ukraine accounted for the largest shares of ASBIS’s September revenue, followed by Slovakia and Poland.

Growth Follows Record First Half

September’s results follow a period of strong financial performance for ASBIS.

In July, the company reported preliminary consolidated revenue of $531 million, an increase of 89% compared with the same month in 2025. August brought a further rise to $604 million, up 91% year on year.

September’s $1.05 billion figure represents a substantial increase on both months, although the company has not provided a detailed breakdown explaining the acceleration.

The results also follow a record first half of 2026, when ASBIS generated approximately $2.97 billion in consolidated revenue, up 76% year on year.

Net profit after tax reached $80.6 million, compared with $19.4 million in the same period in 2025.

The second quarter was particularly strong, with revenue reaching $1.69 billion, an increase of 78.7%, while quarterly net profit more than tripled to $44.3 million.

ASBIS has emphasised that its September revenue figures are preliminary estimates and may differ from the final reported results.

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