The Republic of Cyprus has so far received an amount of €568 million from the Recovery and Resilience Facility, while the disbursement of the next tranche is expected in the near future.
This was said by the Minister of Finance, Makis Keravnos, during his greeting at the inauguration of the new student dormitories in Nicosia, which were completed with the funding of the Recovery and Resilience Plan.
During his greeting, Mr. Keravnos referred to the Recovery and Resilience Plan, which will bring Cyprus about €1.2 billion by 2026.
As the Minister said, the Plan is implemented through 135 measures, reforms and investments divided into five policy axes and is implemented through the cooperation of more than 70 public and wider public sector bodies to achieve 271 milestones and goals.
According to the Minister of Finance, to date the Republic of Cyprus has received an amount of €568 million from the Recovery and Resilience Facility, for the first five tranches of sponsorship (10 in total) and pre-financing.
An amount that corresponds to 53% of the €1 billion sponsorship to Cyprus.
In addition, as Mr. Keravnos revealed, the request for the disbursement of the sixth tranche of sponsorship, amounting to approximately €61 million, is under evaluation by the European Commission.
18 million for rejuvenation
The Minister of Finance stated that the creation of student rooms is part of the general measure of the Recovery and Resilience Plan concerning the Regeneration and revitalization of Nicosia within the walls.
Specifically, the total budget of this measure amounts to €18 million (excluding VAT) and includes:
⦁ purchase and renovation of buildings in the walled Nicosia with the aim of adapting them to student dormitories, with the Municipality of Nicosia as the Implementing Body and a budget of €7 million. (excl. VAT) and
⦁ a grant scheme for the conversion of rooms into student dormitories, with the Department of Urban Planning and Housing as the Implementing Body with a budget of €11 million. (excluding VAT).
The new outbreaks are a model of cooperation
Makis Keravnos, during his greeting, said that the project of the student dormitories in the center of Nicosia is a model of effective utilization of state and European funding, but mainly a model of good and productive cooperation between the State, the Local Authorities and the Academic community, resulting in a great social benefit.
In fact, addressing the students and their families who were at the event, he said that the government recognizes the difficulties in finding housing, as well as the cost of housing. "The Government has among its priorities the relief of you in various ways from the financial burden, both you and your families," he stressed
