The €12 million investment in rural Cyprus aims to foster sustainable development and improve economic prospects for rural areas. The funds will be distributed among four district action groups over five years, supporting targeted projects for community development as part of the EU 2023-2027 Common Agricultural Policy plan.
What is the €12 million investment in rural Cyprus aimed at?
The €12 million investment in rural Cyprus is aimed at fostering sustainable development in rural areas, enhancing quality of life, and improving economic prospects. It will be distributed among four district action groups over five years, as part of the EU 2023-2027 Common Agricultural Policy plan, supporting targeted projects for community development.
Investing in the Heartland
Rural areas in Cyprus are set to receive a significant boost in the form of a €12 million investment. This substantial sum will be distributed among four district action groups to foster development over the next five years. This initiative falls under the broader EU 2023-2027 Common Agricultural Policy (CAP) plan, a strategic move to ensure the sustainable growth of these vital regions.
A Collaborative Effort for Sustainable Development
The action groups responsible for community development in Troodos, Larnaca & Famagusta, Limassol, and Paphos are the beneficiaries of this funding. The aim is to undertake targeted projects that directly address the needs of local residents, enhancing their quality of life and economic prospects.
The Ministry’s Extension
Agriculture Minister Petros Xenophontos has praised the development companies for their past successes and reaffirmed their role as vital extensions of the ministry. His words highlight the importance of these entities in channeling resources and efforts to where they are most needed.
Allocation of Funds
The committee, a six-member panel, has meticulously evaluated and ranked the funding applications submitted by the action groups. They have designated the largest share of funds to the Troodos development group, which will receive €3.1m. This is closely followed by allocations of €3m, €2.9m, and €2.8m for the Larnaca & Famagusta, Limassol, and Paphos groups, respectively.
Future Projects and Visions
Petros Hadjicostas, the Director of the Troodos group, has highlighted the successful use of previous CAP funds for agritourism and infrastructure projects. Looking ahead, the group plans to focus on initiatives that support young entrepreneurs, educational centres, and healthcare facilities, such as dental and physiotherapy clinics. This strategic use of funds is poised to create a ripple effect of benefits across the community.
In Limassol, director Rakis Pierides has exciting plans for ecological projects, with particular attention on youth engagement. Meanwhile, Marios Ioannou from Paphos emphasizes the need for robust frameworks to ensure the efficient and timely use of funds, whether they are allocated to private individuals or district administrations.
A Path to Prosperity
This significant financial injection is more than just a monetary contribution—it’s a commitment to the very heartbeat of Cyprus’s rural landscape. With these resources, we anticipate a flourishing of local innovation, a bolstering of community spirit, and a step towards a sustainable future for the island’s cherished rural areas.
Quick Recap
- The €12 million investment in rural Cyprus aims to foster sustainable development and improve economic prospects for rural areas.
- The funds will be distributed among four district action groups over five years, supporting targeted projects for community development as part of the EU 2023-2027 Common Agricultural Policy plan.
- The beneficiaries of this funding are the action groups responsible for community development in Troodos, Larnaca & Famagusta, Limassol, and Paphos.
- The Troodos development group will receive the largest share of funds, followed by Larnaca & Famagusta, Limassol, and Paphos.
- The funds will be used for various projects, including agritourism, infrastructure, support for young entrepreneurs, educational centers, healthcare facilities, and ecological projects.
