Press Release: European Commission adopts ‘Partnership Agreement’ with Cyprus on using EU Structural and Investment Funds for growth and jobs in 2014-2020

On 20 June 2014, the European Commission adopted a "Partnership Agreement" with Cyprus setting down the strategy for the optimal use of European Structural and Investment Funds in tackling the crisis and encouraging growth for the benefit of the country and its people.

This agreement paves the way for investing €735.6 million in total Cohesion Policy funding over 2014-2020 (in current prices, including European Territorial Cooperation funding) and €132.2 million for rural development to be channelled into the country’s real economy. To promote the fisheries and maritime sector, Cyprus will receive €40 million from the European Maritime and Fisheries Fund (EMFF).The EU investments will support the Cypriot economy in emerging from the crisis and encourage economic activity. They will help tackle unemployment and boost competitiveness and economic growth through support to entrepreneurship, innovation, training and education. They will also, fight social exclusion and help develop an environmentally-friendly and resource-efficient economy.

• Primary Source

ESO: Background information: European Commission adopts EU's first ‘Partnership Agreement’ on using EU Structural and Investment Funds for growth and jobs in 2014-2020 http://www.europeansources.info/record/press-release-european-commission-adopts-eus-first-partnership-agreement-on-using-eu-structural-and-investment-funds-for-growth-and-jobs-in-2014-2020/

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