For the Programming Period 2014 - 2020, following negotiations at EU level, an amount of €788 million has been allocated to Cyprus from the Structural Funds, the Cohesion Fund and the Youth Employment Initiative. These funds will be allocated to priority areas, in accordance with the strategic programming documents: the Partnership Agreement and the Operational Programmes. The DG EPCD has the overall responsibility and coordinating role for the preparation of these documents, in its competence as the National Authority for Cohesion Policy.
The first step in the whole process is the preparation and submission of a comprehensive strategic document for the utilization of the European Structural and Investment Funds, called the Partnership Agreement (PA). The strategic objective of the PA is the restructuring of the Cyprus economy, preserving and creating new jobs and securing social cohesion.
The next step is the preparation of the Operational Programmes, which will specify in more detail the PA through specific priorities and indicative interventions. The following Programmes will be prepared:
(a) two Operational Programmes for Cohesion Policy Funds,
(b) the Rural Development Programme, and
(c) the Operational Programme for Fisheries and Aquaculture.
Operational Programmes for Cohesion Policy 2014 - 2020
For the Programming Period 2014 - 2020, an amount of €788 million has been allocated to Cyprus for the implementation of the Cohesion Policy. This amount includes, among others, €48,4 million which will be dedicated to the Connecting Europe Facility, €32,7 million for the European Territorial Cooperation Programmes and €3,9 million for the Fund for European Aid to the most Deprived, for each of which separate Programmes are being prepared.
There will be two Operational Programmes for Cohesion Policy, namely the Operational Programme "Competitiveness and Sustainable Development", which will be co-financed by the European Regional Development Fund (ERDF) and the Cohesion Fund (CF), and the Operational Programme "Employment, Human Resources and Social Cohesion", which will be co-financed by the European Social Fund (ESF) and the Youth Employment Initiative.
In the framework of the Operational Programme "Competitiveness and Sustainable Development", with an EU contribution of €561,8 million, interventions will be promoted for the enhancement of competitiveness of the economy through the promotion of interventions for the enhancement of SMEs, the sectors of Research and Development and Information and Communication Technologies, interventions in the sectors of Environment, Energy and Transport, as well as interventions for the promotion of integrated sustainable urban development in deprived areas.
In the framework of the Operational Programme "Employment, Human Resources and Social Cohesion", with an EU contribution of €141,1 million, interventions will be promoted for the promotion of employment, lifelong learning and social cohesion.
The interventions of both Operational Programmes will include investments of the broader public sector, as well as schemes/incentives addressed to the private sector.
The EU co-financing rate will be up to 95% of the total eligible public spending.
The approval of the Cohesion Policy Programmaes by the European Commission is expected by the end of 2014.
For more information visit the wesite of the Managing Authority.