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EU Approves €76.9 Million Payment To Cyprus Under NextGenerationEU Programme

by THEFUTURE.TEAM

February 12, 2025

The European Commission has given its stamp of approval for Cyprus’ request to receive a €76.9 million payment under the NextGenerationEU program — the EU’s flagship initiative designed to drive recovery towards a more sustainable, digital, and competitive future.

This funding, part of Cyprus’ Recovery and Resilience Plan (RRP), comes after Cyprus completed nine reforms and seven investment projects. These milestones pave the way for improvements that will directly benefit Cypriot citizens and businesses, including advancements in digitalization, healthcare, environmental sustainability, energy, research, and connectivity.

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Key initiatives include the creation of a streamlined government process to foster strategic investments, helping reduce administrative burdens and driving economic growth. Another flagship project involves the Cyprus Transmission System Operator, which has introduced a Market Management System to make the electricity market more competitive, promising lower prices and better service for consumers.

This payment is the third installment under the Recovery and Resilience Facility (RRF), the financial backbone of NextGenerationEU, which aims to strengthen EU economies post-pandemic. Cyprus’ recovery strategy focuses on preparing the nation for a greener, digital future, with a focus on sustainable investments in critical sectors.

The European Commission has forwarded its preliminary assessment to the Economic and Financial Committee (EFC) for review. If the EFC provides a positive opinion, a formal payment decision will be made, releasing a further €378.1 million to Cyprus.

Since Cyprus began its RRF journey, a total of €1.2 billion has been allocated to support its recovery and transition plans. This new payment will bring the total disbursed funds to €454 million, marking over 24% of the plan’s approved goals being fulfilled.

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FinTech’s Dominance In MENA: Three Strategic Drivers Behind Unyielding VC Success

by THEFUTURE.TEAM

September 11, 2025

Despite facing tightening global liquidity and macroeconomic headwinds, the FinTech sector continues to assert its leadership in the MENA region. In the first half of 2025, FinTech emerged as the most resilient and appealing arena for venture capital investments, proving its worth as a catalyst for financial innovation and inclusion.

Addressing Structural Financial Gaps

In many parts of MENA, a significant proportion of the population remains underbanked and underserved by traditional financial institutions. FinTech companies are uniquely positioned to address these persistent challenges by bridging critical access gaps and driving financial inclusion. With the proliferation of payment apps, digital wallets, and micro-lending platforms, investors have witnessed firsthand how these solutions pave the way for scalable growth and eventual exits. Early-stage momentum in the region is underscored by a doubling of pre-seed deals year-over-year, reinforcing the sector’s capacity for rapid innovation and sustainable expansion.

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Highly Scalable and Replicable Business Models

One of the key factors behind FinTech’s dominance is the inherent scalability of its business models. Once the necessary infrastructure and regulatory approvals are in place, these models have demonstrated robust performance across borders. The first half of 2025 saw a marked acceleration in deal activity, with payment solutions leading the charge with 28 deals in MENA—a significant increase over the previous year. Lending platforms, in particular, experienced a meteoric 500% year-over-year increase in funding, emerging as the fastest-growing subindustry. Such replicability makes FinTech an attractive proposition for investors seeking high-growth opportunities in diverse markets.

Supportive Regulatory And Government Backing

The strategic support offered by key government initiatives in the UAE and Saudi Arabia has been instrumental in propelling the FinTech sector forward. Progressive frameworks, such as the UAE’s open finance and digital asset directives, coupled with Saudi Arabia’s live-testing sandboxes, have materially lowered entry barriers for startups. These measures not only foster innovation but also streamline the path to commercialization. Consequently, the combined efforts of these regulatory bodies have enabled the UAE and Saudi Arabia to account for 86% of MENA’s total FinTech funding in H1 2025.

The resilience of FinTech in MENA is not merely a reflection of contemporary market trends—it signals a fundamental shift in the region’s economic fabric. With an unwavering commitment to addressing real financial challenges, scalable and replicable business practices, and robust regulatory support, FinTech is setting the benchmark for sustainable innovation. As capital markets become increasingly discerning, this sector stands out as a beacon of long-term growth and transformative impact.