EU Redirects ā¬34.6 Billion to Priorities ā ā¬64 Million for Cyprus
The European Union is redirecting ā¬34.6 billion from cohesion funds (2021ā2027) to sectors like defense and energy.
Cyprus will allocate ā¬64 million to water resource management, out of the total ā¬969 million allocated.
The initiative concerns 10% of the cohesion policy budget, due to geopolitical developments.
ā¬15.2 billion for competitiveness, ā¬11.9 billion for defense, ā¬3.3 billion for housing, ā¬3.1 billion for water, and ā¬1.2 billion for energy.
The redirection is accompanied by more favorable financing terms.
Source: ĪĪ„Ī Ī