Saturday, February 7, 2026

NEW €15 billion EUROPEAN FUND FOR WATER - CYPRUS WILL DRAW MONEY FROM EUROPE FOR THE LOSSES OF THE NETWORK

Filenews 7 February 2026



Member states did not use EU structural funds as much as they should for investments in projects related to water resilience, said the European Commissioner for the Environment, Water Resilience and Competitive Circular Economy, Jessica Rosewall, at a press conference, following the conclusion of the Informal Council of EU Environment Ministers in Nicosia, held in the framework of the Cyprus Presidency of the Council of the EU.

"Investing in water is investing in our economic security," the Commissioner said, noting that "the cost of doing nothing is too high." He also said that for this reason the EU cohesion funds have become more flexible precisely for investments in water resilience.

He added that there is also a new fund of the European Investment Bank with funds of 15 billion euros for financing in the water sector. He also highlighted the importance of strengthening private financing and promoting innovative solutions in the water sector.

Answering a journalist's question about the concrete measures taken by the EU to support member states in managing the water crisis, the Commissioner noted that in addition to encouraging more investments in water projects with funding from EU funds, the Commission is also encouraging member states to proceed with harmonization with a number of legislative frameworks related to the management of water resources.

Also answering a question about investments in projects to control and limit network losses, the Commissioner said that this is one of the areas where investments can be made by each member state. He also said that several member states are facing a problem due to losses in the network and that in some of them the losses exceed 50%.

For her part, the Minister of Agriculture, Rural Development and Environment, Maria Panayiotou, said, in the context of the press conference, that Cyprus is using a series of EU tools to manage the water crisis, as is done with the study that will show the losses of the network, which, as she said, could not be prepared without the help of the EU. He also noted that a number of infrastructure projects of the Water Development Department are co-financed by EU funds.

The Minister agreed with the position on the need for a more rational use of water resources, to which Commissioner Rozgul also referred, reiterating that the target of reducing water use by 10% in the context of the European Resilience Strategy is something that the Government is also asking of the citizens.

However, Ms. Panagiotou also referred to the need for timely measures, pointing out that scientific data indicated the conditions of the current situation since 2006. "The crisis has come – not only in Cyprus, but also in other countries – to such a magnitude that we do not have all the infrastructure," he said, adding that "the issue is timely preparation and the projects we need during a crisis to be done in advance." He also said that in parallel with the management of the current crisis, the Government is preparing for 2050, in cooperation with experts from the EU.

To turn common ambition into concrete action within the EU, said the Minister

The Minister told reporters that discussions in the Informal Council focused on how Europe can strengthen its climate and water resilience while enhancing competitiveness, strategic autonomy and citizens' well-being. "We looked at how we can turn common ambition into concrete action within the European Union," he said, adding that at the same time they discussed how Europe can act more effectively on the global stage, in light of the recent climate negotiations.

"Our discussions today helped pave the way for future work towards a comprehensive framework for climate resilience and laid the groundwork for adequate funding," he continued.

He also said that the legislation on the circular economy is a sign of a strategic change, pointing out that "it is not only about environmental policy, but also about an agenda of competitiveness, security and resilience".

"By creating a true single market for secondary raw materials, reducing dependence on imports and strengthening Europe's industrial base, we are investing in long-term resilience," the Minister said. "In a more fragmented and unpredictable geopolitical landscape, the European Union must be able to translate ambition into tangible results," he added, underlining the need for cooperation and coordination with third countries.

The European Commissioner for Climate, Net Zero Emissions and Clean Growth, Wopke Hoekstra, also referred to the issue of international climate diplomacy in particular, in the context of the press conference, who expressed satisfaction with the intention of the Cyprus Presidency of the Council of the EU to work in this direction. "It will be a process that will follow us for years to come," said Commissioner Hoekstra, adding that "it takes a lot of time, but it is imperative that we finally succeed."

At EU level, the Commissioner underlined the need to focus on resilience, but also on cooperation. He noted that there is a need for a European plan to jointly address the problems that may arise from drought, floods or fires, in parallel with the action of each member state individually.

In addition, Commissioner Rozgoul also said that a fire management strategy will be presented in the spring, putting fire resilience high on the political agenda, with an emphasis on prevention to rehabilitation, with better use of science and innovation.

CNA