Cyprus Mail
CyprusFeatured

President announces projects for Nicosia

The Nicosia Town Hall

President Nicos Anastasiades on Thursday announced new projects in Nicosia worth €420m, including a new parliament building expected to cost some €71m.

Construction of the new parliament is expected to start in June 2018, the president said.

The projects he announced include improvements to the road network, renovation of the Nicosia courthouses and the old municipal market, sprucing up the lot that used to house the old GSP stadium, and repairs and improvements to schools.

Some €254m will be spent on projects in the district’s municipalities with Nicosia receiving the most, €161.5m.

Public utility projects are expected to cost some €125m, including €51m on a ring road, €43m on water supply system, and €27m on the restoration of landfills.

Anastasides reiterated the government’s decision to take over repayment of guaranteed local authority loans worth €178m.

The decision, he said, would be beneficial to the district, and Nicosia municipality, which would get rid of close to €85m in loans.

“Local authorities can now utilise the substantial sums they were obliged to pay on loans and, through targeted long-term planning, complete projects that will improve services and the quality of their residents’ lives,” Anastasiades said.

The president stressed the need for local authorities to rationalise their finances through the integration of services on local and district levels, thus achieving economies of scale and reducing spending.

“In that regard, I would like to urge parliament for the umpteenth time, to expedite approval of the relevant bill and the regulations to modernise local administration,” he said.

 

Related Posts

Britain’s leadership rivals, Truss and Sunak pledge support for Cyprus

Jean Christou

AG says animal abuse must be investigated immediately, protest planned for Thursday

Staff Reporter

Turkey prepared for 1974 Cyprus ‘peacekeeping operation’ for ten years, official says

Staff Reporter

Man tried to leave on Cyprus-Greece ferry with fake travel documents

Staff Reporter

Deputy AG rejects claims of cover-up in spyware case

Sarah Ktisti

Most 2021 residence permits given to Russians

Jean Christou

13 comments

Comments are closed.