Cyprus to receive more than €50 million for project financing
The Minister of Communications and Works, Mr Marios Demetriades, participated in the EU Informal Transport Ministerial Council, which took place on 16 and 17 September, in Milan.
At the heart of the Informal Council was the operation of the Trans-European Transport Network (TEN-T) which aims at a sustainable, functional, safe and of high performance transport network throughout Europe. The Ministers also discussed the issue of a financing mechanism with the introduction of the “Connecting Europe Facility” from which Cyprus is expected to receive more than € 50 million for the financial period of 2014-2020.
Additionally, the issues of smart and sustainable development and economic and social cohesion were set as general priorities of the Council, on the basis of which the above mentioned decision will be implemented. The project, as it was planned, includes nine corridors. Cyprus has joined the Orient/East–Med Corridor that starts in Hamburg, crosses Europe, passes Greece, arrives in Limassol and ends in Nicosia. In the framework of this project other road, port and intelligent transport system projects will be financed. - 17.9.2014