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Cyprus is at first place for absorption of the EU Regional Development Fund

Followed by Finland and Luxembourg

  • January 14, 2019 19:30
  • Author Monika Dimitrova
Medium cyprus
Source: Pixabay

For a second consecutive year, Cyprus is ranked first among member states for absorption of the EU Regional Development Fund in 2018 and 6th concerning its take-up capacity from all EU funds.

Cyprus is at first place for absorption of the EU Regional Development Fund

According to EU data, Cyprus achieved an absorption rate of 46%, followed by Finland with 36% and Luxemburg with 35%. According to the Finance Ministry statement said that based on the certified cumulative payments, Cyprus not only achieved full absorption of EU funds but also ranked among those member-states with the best performance in the current Multiannual Financial Framework (2014-2020). Cypriot Finance Minister Harris also underlines the significance of these funds to secure sustainable growth, noting the government’s readiness to continue efforts towards that end.

Source: Financial mirror