Cyprus has secured the leading position in the European Union for the effective absorption of European funds, as confirmed by Lefteris Christoforou, the Cypriot member of the European Court of Auditors (ECA). Christoforou shared this achievement on Tuesday after meeting with President Nikos Christodoulides in Nicosia, where he presented the ECA\u2019s annual report.<\/p>\n
Highlighting Cyprus\u2019 success, Christoforou noted that the country excelled in utilizing funds from various EU sources, including the Social Cohesion Funds, the European Regional Development Fund, the European Social Fund, and the Fund for Youth Employment. In the previous fiscal framework, Cyprus absorbed \u20ac745 million. Additionally, under the current fiscal framework, Cyprus is performing 35% above the EU average in fund absorption.<\/p>\n
Regarding the Recovery and Resilience Facility, Cyprus has so far received \u20ac263 million, representing 21% of its allocated funds. Christoforou mentioned that subsequent tranches totaling \u20ac230 million have already been disbursed, with another installment expected by the year\u2019s end.<\/p>\n
President Christodoulides expressed gratitude to state services for their efficiency in ensuring no EU funds are wasted. \u201cThis financial assistance is vital for transforming our country, improving competitiveness, and enhancing the lives of Cypriot citizens,\u201d he remarked.<\/p>\n
The president also emphasized that within the EU, there is an ongoing discussion about strengthening the bloc\u2019s competitiveness, especially in relation to global economic powers like the United States and China. To address this, the European Commission is exploring the creation of new financial instruments.<\/p>\n
The ECA, as the EU\u2019s external audit body, plays a key role in overseeing the proper implementation and legal use of EU funds. Comprising one member from each member state and supported by around 800 staff, the institution ensures sound financial management across the bloc.<\/p>\n
Source: Cyprus Mail<\/em><\/p>","protected":false},"excerpt":{"rendered":" Cyprus has secured the leading position in the European Union for the effective absorption of European funds, as confirmed by Lefteris Christoforou, the Cypriot member of the European Court of Auditors (ECA). Christoforou shared this achievement on Tuesday after meeting with President Nikos Christodoulides in Nicosia, where he presented the ECA\u2019s annual report. Highlighting Cyprus\u2019 […]<\/p>","protected":false},"author":9,"featured_media":107463,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[211],"tags":[],"_links":{"self":[{"href":"https:\/\/www.lamaisonestates.com\/he\/wp-json\/wp\/v2\/posts\/107461"}],"collection":[{"href":"https:\/\/www.lamaisonestates.com\/he\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.lamaisonestates.com\/he\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.lamaisonestates.com\/he\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/www.lamaisonestates.com\/he\/wp-json\/wp\/v2\/comments?post=107461"}],"version-history":[{"count":1,"href":"https:\/\/www.lamaisonestates.com\/he\/wp-json\/wp\/v2\/posts\/107461\/revisions"}],"predecessor-version":[{"id":107464,"href":"https:\/\/www.lamaisonestates.com\/he\/wp-json\/wp\/v2\/posts\/107461\/revisions\/107464"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.lamaisonestates.com\/he\/wp-json\/wp\/v2\/media\/107463"}],"wp:attachment":[{"href":"https:\/\/www.lamaisonestates.com\/he\/wp-json\/wp\/v2\/media?parent=107461"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lamaisonestates.com\/he\/wp-json\/wp\/v2\/categories?post=107461"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lamaisonestates.com\/he\/wp-json\/wp\/v2\/tags?post=107461"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}