Cyprus has managed to meet its target for absorbing funds for 2025 made available through Thalia 2021-2027 and ranks fourth among EU member states, head of the monitoring committee Penelope Papavassiliou said on Friday.

Papavassiliou was speaking at the meeting of the fourth monitoring committee of the cohesion policy programme Thalia 2021-2027, which is co-financed by both European and national funds.

The programme focuses on green investments, energy projects, renewable energy sources, investments to address poverty and unemployment, as well as targeted interventions to address water scarcity and enhance water resilience.

Papavassiliou said the programme was showing particularly positive momentum, adding that Cyprus achieved 100 per cent absorption of funds during the previous programming period 2014-2020.

She added that preparations were underway for 2028-2034 in view of Cyprus’ EU presidency in the first half of 2026.

During the meeting, the project for the transformation of the old GSP stadium in Nicosia into a green and recreational area was presented, along with the project for the development of technical and vocational education and training.

The meeting was attended by representatives of ministries, authorities, the social partners, civil society, organisations and the European Commission.