Cyprus is opening a new route to finance for farmers whose investment plans have already been approved, as the government looks to turn its €454 million agricultural programme into viable projects and breathe new life into rural communities. 

Agriculture Minister Christos Senekis said the new financial instrument had been created to tackle the liquidity problems producers often face after securing approval for an investment. 

Farmers whose projects are approved under Strategic Plan for the Common Agricultural Policy (CAP) 2023-2027 will be able to approach participating banks and seek funding on more favourable terms. 

Speaking at an event in Mamonia on Saturday, Senekis said supporting the primary sector and revitalising the countryside remained central government priorities. 

The aim, he said, was to give young people greater reason to “stay, return and create” in their communities, while helping existing producers invest in more competitive and sustainable businesses. 

The CAP strategic plan carries total funding of €454m, including €373m from the European Union.

Its measures cover investment in the competitiveness of agricultural holdings, support for young farmers entering the sector and the transition towards a more sustainable and resilient production model.

Senekis said that the government was also preparing for the next CAP programming period after 2027, with the focus remaining on strengthening the competitiveness and resilience of the primary sector and creating better prospects for a new generation of producers. 

Alongside farm financing, he pointed to the LEADER initiative as another route for directing money into rural areas. 

LEADER is a European Union scheme designed to foster rural growth through community-driven planning.

Mamonia participates through the local action group Paphos Development Company ‘Aphrodite’ Ltd, whose strategy has been allocated about €2.8m.

The money can finance projects supporting local development while promoting the culture, history and traditions of the region.

Senekis also described the orange tree as a symbol of Mamonia’s productive history and identity. 

Finally, he congratulated the Association of Expatriates for organising the event and for its long-standing work to preserve the connection between residents, people who have left the village and the community itself.