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EU regional and urban development

Competitiveness and sustainable development

Programme description

Programme description:

The Programme aims to boost competitiveness and growth and help Cyprus exit the crisis. It contributes to achieving the Europe 2020 targets for smart, sustainable and inclusive growth. It should create jobs and help SMEs to become more competitive and innovation-driven. EU funding will also help Cyprus meet the requirements of the Union's acquis, in particular as regards solid waste treatment, and increase energy efficiency.

Funding priorities

The OP support will substantially contribute to promoting the key EU and national development priorities:

  • "Reinforcement of the competitiveness of the economy" (ERDF – 25.8% of the EU allocation): increasing of national research potential and private investments in research and innovation, promotion of entrepreneurship and increase of SMEs' competitiveness, in particular in the tourist sector, as well as promotion of energy efficiency and SMEs' use of renewable energy.  
  • "Promotion of ICT use" (ERDF – 13.1% of the EU allocation): modernisation of the ICT infrastructure, reinforcement of digital entrepreneurship and e-governance for businesses and citizens.
  • "Reduction of CO2 emissions and climate change adaptation" (Cohesion Fund – 7.5% of the EU allocation): increase of energy efficiency in public and private buildings as well as investments for preventing and mitigating risks resulting from climate change.
  • "Management of solid waste and water resources" (Cohesion Fund – 22.6% of the EU allocation): increasing waste recycling and promoting waste prevention, improvement of waste water treatment and water supply.
  • "Management of natural and cultural resources" (ERDF – 1.2 % of the EU allocation): protection and promotion of the cultural and natural (in particular for NATURA areas) heritage of Cyprus.
  • "Promotion of sustainable transport" (Cohesion Fund – 15.1% of the EU allocation): investments in the TEN-T port and road infrastructure and improvement of environmentally-friendly transport system in Nicosia.
  • "Sustainable urban development" (ERDF – 10.7% of the EU allocation): promotion of integrated actions for tackling the economic, environmental and social problems of the urban historical centres.
  • "Technical Assistance" (ERDF – 1.2% of the EU allocation): provision of technical assistance.
  • Priority axis 7B "Technical Assistance" (Cohesion Fund – 2.8% of the EU allocation): provision of technical assistance. ´

Expected impacts

  • Support of around 700 SMEs
  • Reduction by 3,000,000 kw of the annual primary energy consumption of public buildings
  • Increase of Solid waste recycling to 50%
  • High-speed broadband coverage for 50% of households
  • 1,300 new jobs in SMEs
  • Improved waste water treatment for additional 2,300 equivalent populations

Funds

Cohesion Fund (CF): 258.856.192,00 €

Regional Development Fund (ERDF): 367.214.564,00 €

Thematic priorities

View the data

Financial information

Total OP budget: 724.674.538,00 €

Total EU contribution: 626.070.756,00 €

View the data