The Directorate General for European Programmes, Coordination and Development seeks faster implementation of the plethora of EU co-funded programmes already under way in order to make the most of the funds allocated for Cyprus for the period 2014 – 2020.
Head of the European Investment and Structural Funds Directorate Costas Iacovou has talked to CNA on the matter, saying that the DG is pushing for faster rates of implementation. “We want to see the projects get done,” he says.
The €788 million allocated to Cyprus for this period must be used at specific times. There are annual goals, he adds. He gives the example of an extra €200 million secured by Cyprus President Nicos Anastasiades in negotiations, pointing out that if the funds are not earmarked by the end of 2017, they will be lost.
Iacovou further says that in 2016 the DG has had to complete actions for the previous 2007 – 2013 period and kick off programmes and projects for the period 2014 – 2020.
“Our main concern was to ensure that we have used all the resources allocated by the EU for Cyprus in the framework of 2007 – 2013,” he notes, something which he feels has been achieved.
Replying to a question, he says that absorption of funds has reached 95%, with the remaining 5% held out until the European Commission can ascertain that all programmes have been fully implemented.
Iacovou also notes that a small risk is involved where problems with alleged irregularities have been reported. The EU principle is that no funds are granted to be used for projects involving fraud and if fraudulent behaviour is detected, then the Commission will ask for the return of its funds, he explains.
Asked whether there has been any case where funds were asked to be returned, he said there was not.
As far as programmes directly affecting citizens are concerned, he points out that all the programmes launched by the Ministry of Labour for professional education, training and efforts to combat unemployment among young graduates are co- funded by the EU.
In total, he says, the money allocated to Cyprus by the European Social Fund is €130 million for the coming years.
At the same time he highlights the fact that about €300 million will be used for Cyprus programmes and projects from the European Regional Development Fund.
Already, he says, the Minister of Energy, Commerce, Industry and Tourism has launched programmes for young entrepreneurs, women entrepreneurs, improved energy efficiency for households and businesses, as well as a special programme for innovative businesses.
Applications are under review, he adds.
These programmes, Iacovou points out, will constitute a gauge on how to invigorate business activity. This is why, he explains, the DG has given “priority to such programmes so that the productive sector of the economy can reactivate and new jobs created.”
He further notes that two new programmes to upgrade tourist units and promote alternative tourism are expected to be announced in the coming months.
The Research Promotion Foundation is also expected to announce its call on research grants for universities, research institutions and innovation enterprises soon, he adds.
A total of €70 million is expected to be distributed by the European Regional Development Fund for research and innovation, he says.
Iacovou also tells CNA that €80 million will be allocated to the four main municipalities in the island, Nicosia, Limassol, Larnaca and Pafos to implement their comprehensive policies for urban sustainable development.
“The EU wants to see that the funds it invests have a long term impact,” he says. That, he adds, they are money well spent.
Head of the European Investment and Structural Funds Directorate Costas Iacovou has talked to CNA on the matter, saying that the DG is pushing for faster rates of implementation. “We want to see the projects get done,” he says.
The €788 million allocated to Cyprus for this period must be used at specific times. There are annual goals, he adds. He gives the example of an extra €200 million secured by Cyprus President Nicos Anastasiades in negotiations, pointing out that if the funds are not earmarked by the end of 2017, they will be lost.
Iacovou further says that in 2016 the DG has had to complete actions for the previous 2007 – 2013 period and kick off programmes and projects for the period 2014 – 2020.
“Our main concern was to ensure that we have used all the resources allocated by the EU for Cyprus in the framework of 2007 – 2013,” he notes, something which he feels has been achieved.
Replying to a question, he says that absorption of funds has reached 95%, with the remaining 5% held out until the European Commission can ascertain that all programmes have been fully implemented.
Iacovou also notes that a small risk is involved where problems with alleged irregularities have been reported. The EU principle is that no funds are granted to be used for projects involving fraud and if fraudulent behaviour is detected, then the Commission will ask for the return of its funds, he explains.
Asked whether there has been any case where funds were asked to be returned, he said there was not.
As far as programmes directly affecting citizens are concerned, he points out that all the programmes launched by the Ministry of Labour for professional education, training and efforts to combat unemployment among young graduates are co- funded by the EU.
In total, he says, the money allocated to Cyprus by the European Social Fund is €130 million for the coming years.
At the same time he highlights the fact that about €300 million will be used for Cyprus programmes and projects from the European Regional Development Fund.
Already, he says, the Minister of Energy, Commerce, Industry and Tourism has launched programmes for young entrepreneurs, women entrepreneurs, improved energy efficiency for households and businesses, as well as a special programme for innovative businesses.
Applications are under review, he adds.
These programmes, Iacovou points out, will constitute a gauge on how to invigorate business activity. This is why, he explains, the DG has given “priority to such programmes so that the productive sector of the economy can reactivate and new jobs created.”
He further notes that two new programmes to upgrade tourist units and promote alternative tourism are expected to be announced in the coming months.
The Research Promotion Foundation is also expected to announce its call on research grants for universities, research institutions and innovation enterprises soon, he adds.
A total of €70 million is expected to be distributed by the European Regional Development Fund for research and innovation, he says.
Iacovou also tells CNA that €80 million will be allocated to the four main municipalities in the island, Nicosia, Limassol, Larnaca and Pafos to implement their comprehensive policies for urban sustainable development.
“The EU wants to see that the funds it invests have a long term impact,” he says. That, he adds, they are money well spent.
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