Don’t waste a euro of EU funds, president tells cabinet

President Nicos Christodoulides pressed his new cabinet to not allow a single euro to go to waste from the available EU funds of the Recovery and Resilience programme.

In short, that means making the necessary reforms – often changing the legislation by passing bills – to ensure that Cyprus hits the “milestones” needed to unlock each tranche of funds.

Cabinet met on Wednesday in which the president pressed the new ministers to be prepared for the announcement of a new action plan, which will set out how Cyprus will achieve the required reforms.

That will mean solving problems before they arise and avoiding gridlock which often comes up in parliament.

Christodoulides has therefore, according to CNA, called on the executive and legislative powers to deepen coordination – meaning that ministers must link up more closely with the House committee chairs.

Avoiding gridlock can be achieved by having resolved potential issues with bills before they are put to parliament.

The ministers will soon be called to present to cabinet their immediate priorities and the major scheduled reforms within their purview. Deadlines will then be set.

Cyprus received the first tranche of the funds (€85 million) back in December.

Overall, Cyprus’ national resilience and recovery plan consists of 75 investments and 58 reforms. They will be supported by €1.006 billion in grants and €200 million in loans. Forty-one per cent of the plan will support climate objectives and 23 per cent will foster the ‘digital transition’.

The green and digital transition projects are being allocated €447.6m and €89.4m respectively.