European Funds Unit

Co-funded by the European Regional Development Fund (ERDF) and the Cohesion Fund, the Operational programme “Competitiveness and Sustainable Development” is one of the two Programmes that have been prepared for the effective use of Cohesion Policy resources for 2014-2020.

The Operational Programme “Competitiveness and Sustainable Development” is a programming document recording specific priorities and indicative interventions which will be implemented during the period 2014-2020, contributing to the strategic objective of the Partnership Agreement for the restructuring of the Cypriot economy, the preservation and creation of new jobs and the safeguarding of social cohesion.

The total budget of the Programme amounts to €661 million. €561,8 million (85%) shall be contributed by the ERDF and the Cohesion Fund, whereas the remaining 15% shall be paid by national funds.

Within the framework of the Operational programme “Competitiveness and Sustainable Development”, interventions planned will contribute to the enhancement of the economy’s competitiveness through investment in the sectors of Research and Innovation and Information and Communication Technologies and SMEs support. Interventions are also planned in the sectors of Environment, Energy and Transport, as well as for promoting integrated sustainable urban development in deprived areas.

The interventions shall include investments of the broader public sector, as well as Grant/Incentive Schemes addressed to the private sector.

The European Commission has approved the Operational programme “Competitiveness and Sustainable Development” 2014 - 2020, with its Implementing Decision No C(2014) 10084 dated 16 December 2014.

For more information you can visit the European Structural and Investment Funds in Cyprus for the period 2014-2020 website.