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€48.2 million of Cyprus Tomorrow projects to be implemented in Q1

solar

Household and business schemes estimated to be worth over €48 million will be announced in the first quarter of 2023 as part of the Cyprus Tomorrow plan, Government Spokesman Marios Pelekanos said on Wednesday.

He said that through the plan, funds exceeding €4 billion will flow into Cyprus until the end of 2026. The plan includes 58 reforms and 75 investments, of which two thirds will be used for the green and digital transition.

The Cyprus Tomorrow plan is a combination of the €1.2 billion Recovery and Resilience Plan and the €1.8 billion Thaleia operational programme, which, based on studies, will mobilise another €1.4 billion in private investment.

Describing the plan as the legacy of the outgoing government, Pelekanos said that “in order to be able to absorb the resources allocated to us, we must definitely achieve the goals set by the EU and of course achieve within the timetables determined.

“And it is for this that the cooperation of the executive power, the House of Representatives, the public service, of anyone involved in the implementation of the specific programmes is required,” he added, noting that this does not concern the current president, since it is planning that will run for several more years after his term.

According to Pelekanos, in the first quarter of the year €48.2 million projects will be implemented.

These are the plans to strengthen the competitiveness of large companies (€7 million), digital upgrading of companies (€10 million), promoting the extroversion of Cypriot companies (€2.9 million), providing consulting services to small and medium-sized companies (€5 million), providing incentives for implementation of a circular operating model in SMEs (€13.3 million), installation/replacement of a solar water heater in residences (€1 million), and the project for energy upgrading of local authority buildings and the wider public sector (€9 million). The latter has already been announced and will start accepting applications early 2023.

In addition, the sponsorship plan for the installation of photovoltaics and thermal insulation of the roof (€70 million), the sponsorship plan for the installation of a photovoltaic system for electric vehicle charging (€1.5 million), will continue within 2023, while the Save – Upgrade plan has been extended to businesses and other bodies, with a budget of €40 million.

Asked if there was a consultation with the presidential candidates in view of the elections, the government spokesman explained that the programmes started to be implemented from 2021 and noted that the preparation of the programmes had started much earlier.

Besides, Coordinating Director at the Directorate of Recovery and Resilience in the Directorate General for Development Anthoula Savvides explained that the objectives specifically for the Recovery and Resilience Plan have a different approach from the Thaleia programme and “they cannot be changed”.

 

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