€270 million will be allocated 2021–2027 in support of entrepreneurship


A total of €270 million will be allocated between 2021–2027 in support of entrepreneurship, industry and energy saving schemes, Minister of Energy, Commerce, Industry and Tourism Natasa Pilides has said.

Speaking to the press after a meeting with Andros Kyprianou, General Secretary of left-wing main opposition party, Akel, Pilides also said high priority will be given in energy saving and renewables.

And that the new programmes target vulnerable groups, households and businesses, as well as new plans for installation of home electric car charging points.

“Overall, the amount to be allocated after an approval from the Directorate General for European Programmes, Coordination and Development is about €270 million for the next programme period,” she said.

“We hope that we will soon have the approval so as to proceed with the information campaign,” she added.

Furthermore, Pilides said that there was a delay in the hydrocarbons activities in the Cypriot EEZ due to the coronavirus pandemic with oil and gas companies suspending explorations for 2021.

She assured that the Ministry is working hard and communicate with the companies hoping that there will be no new delays which is the companies’ position in the current phase.



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