EU pleased with Cyprus spending plan

BRUSSELS said yesterday it was pleased with the way EU funds to Cyprus over the next seven years were to be spent.In its National Strategic Reference Framework (NSRF), Cyprus describes how it is going to invest the EU funding of €612 million to deliver growth and jobs from 2007 to 2013.

Regional policy Commissioner Danuta Hubner and Employment and social affairs Commissioner Vladimir Spidla expressed satisfaction at the mix and priorities chosen by Cyprus.

"I am very happy that the Cyprus' NSRF includes a significant commitment to the Lisbon strategy for jobs and growth; 58.9 per cent of the investment has been ‘earmarked’ for Lisbon related expenditure,” said Hubner, who was in Cyprus recently to inspect EU-funded projects.

“This is the proof of Cyprus' commitment to the Lisbon Strategy. I am confident that we can make an important contribution to improving the competitiveness of Cypriot regions through this new generation of cohesion programmes,” she added.

The adoption procedure has now been completed and the European Commission issued its decision on elements of the Cypriot plan, including priorities, indicative annual allocations, and list of operational programmes."

The Cyprus strategy contains a strong commitment to promoting the quality and intensity of investments in human resources. This shows once again that more and better jobs lie at the heart of the European reform agenda. With the priorities chosen by Cyprus, workers will be able to better adapt to changing circumstances. The strategy will also boost employment and promote social inclusion,” said Spidla.