XXII. Cyprus EU Cohesion and Structural Funding Allocations
Cyprus EU Cohesion and Structural Funding Allocations
- €30m Objective 2 2004-6 at SPD) to upgrade Cyprus’s infrastructure and institutions.
-
€640m phasing-in allocation 2007-13 Cyprus: Cohesion Policy
strategies and programmes)
- Cyprus was a net contributor to the EU budget in 2009 at €27m (Wikipedia: Budget of the EU)
- Cyprus also received extra funding according to a letter from EC Commission President Barosso to President Anastiades of Cyprus of 16 April 2013. Sometime between November 2011 and 2013 Cyprus recieved
an additional allocation of EUR 150 million under cohesion policy to 'recognise the challenges posed by the situation of island Member States and the remoteness of certain parts of the European Union' and EUR 7 million under rural development (which will be subject to a co-financing rate of 100%).
Future Structural/Cohesion Funds
In the letter Barosso details future structural/cohesion fund possibilities
Thus, for its future ERDF, ESF, Cohesion Fund, EARDF and EMFF allocations Cyprus will be able to request higher pre-financing rates (i.e. 1.5% instead of the normal 1% in both 2014 and 2015). Under cohesion policy and rural development, Cyprus will be able to request a 10% "top up" co-financing rate. Moreover, there will be a review in 2016 of the cohesion allocations and possibly of eligibility for the Cohesion Fund in 2017 with a view to adjusting the results in cases of significant divergences between the statistical data used to determine the agreed allocations and developments in the real economy.
Report on absorption rates of EU funds allocated to Cyprus
ESF absorption seems low at 28% - merits further investigation as this is a crucial area for NGO action on pathways to work and social inclusion (anti-poverty) initiatives link.