Cyprus is making significant progress with its long-term development programme, "THALEIA 2021-2027," as total investments exceed €1.5 billion. With expenditures surpassing €450 million by the end of 2024—30% of the programme's total budget—the initiative aims to drive growth across sectors of the economy and social life, supported by EU co-financing.

The progress was presented on Wednesday during the 3rd Annual Meeting of the Monitoring Committee, hosted by the Ministry of Finance’s Directorate General for Development, it said in a press release. EU representatives Panagiotis Pantazatos and Barbara Kauffmann praised the programme’s alignment with evolving EU policy goals but urged Cyprus to accelerate payment requests to the European Commission considering broader EU discussions for the future of cohesion policy.

Penelope Papavasiliou, Chair of the Monitoring Committee and Deputy Director General of Development, opened the session by noting that Cyprus fully absorbed its Cohesion Fund resources for 2014-2020, placing it first among EU countries. She expressed hope for similar successes under "THALIA 2021-2027."

As she said, key priorities include energy and environmental projects with budgets exceeding €700 million, along with initiatives supporting small- and medium-sized enterprises, digitalisation, research, and innovation, totalling over €250 million. Social projects focusing on employment, education, and poverty alleviation receive over €400 million, while €150 million is allocated to local development projects led by municipalities and local authorities.

During the presentation of the programme's progress, the Director of Development, Anthi Philippidou, provided a detailed account of the allocation of resources for "THALIA 2021-2027".

She highlighted the programme’s five Strategic Projects including upgrade/Expansion of the Land Information System, with a budget of €22 million and 60% co-financed by the EU.

She also referred to the sustainable development of the Akamas National Forest Park, with a budget of €16.1 million and 60% EU co-financing and the “Pay-As-You-Throw” Programme, with a budget of €25 million and 85% EU co-financing.

Among the major projects is also Nicosia Peripheral Highway (Phase B3), with a budget of €42.6 million and 85% EU co-financing, as well as restructuring of Social Welfare Services, with a budget of €48 million and 60% EU co-financing.