BRUSSELS - Nicosia has expressed satisfaction with the decision taken by the European Council on the Multiannual Financial Framework 2014-2020 giving Cyprus €1 billion as part of cohesion policy and common agricultural.
"The Cyprus Presidency of the Council of the EU has contributed significantly to reaching this agreement, something which has been acknowledged by our European partners," government spokesman Stefanos Stefanou said Friday evening.
"Cyprus, after tough negotiations, has managed to secure the amount of €1 billion in the framework of the Cohesion Policy and the Common Agricultural Policy," he added.
He also said that taking into account the funds that can be claimed from the competition programs, the total revenues are expected to reach € 1.3 billion.
“We consider important the fact that Cyprus will become a net recipient of funds during the period 2014-2020, from being a net contributor in the previous period”, he said.
This is particularly important given the difficult financial times Cyprus is going through today, added Stefanou.
Another positive development, he added, is the fact that for the first time the challenges faced by the island States are being acknowledged, noting that an amount of €150 million is provided for Cyprus.