Press Release: Commission adopts plan to reprogramme €21m of regional funds for growth and jobs in Cyprus

The European Commission on 26 April 2013 adopted a reprogramming plan that will help promote growth in Cyprus and strengthen the impact of EU regional funds there. The decision to redirect €21m worth of Regional Funds is intended to help the country deal with the current socio-economic crisis and ensure a quicker delivery of available investments particularly when it comes to supporting small and medium sized business and the employment of young people.

This revision was requested by Cyprus earlier in 2013 and the decision will see funds from lesser performing regional policy areas being redirected to where the funds are likely to have more impact for growth and jobs in the shorter term.