The THALYA2021-2027 programme marks the beginning of a new era of development and social cohesion in Cyprus. With an investment of €1.8 billion, the country aims to achieve a green and digital transition, support local initiatives, job creation and social inclusion.
The previous phase of the programme (2014–2020) was very successful for Cyprus. During this time:
- 24,000 new jobs were created;
- In the country’s GDP increased by 6%;
- Cyprus became the leader among the 27 EU countries in the development of funds. The total investment amounted to €1 billion , of which €880 million was allocated by the European Union.
The programmes have made a decisive contribution to improving the daily lives of citizens and strengthening the competitiveness of the Cypriot economy, creating major development projects, actively supporting vulnerable social groups, encouraging young potential entrepreneurs, strengthening employment, education and social inclusion, as well as promoting the development of green energy, research and innovation.
Key projects of the program “THALYA2021-2027”
With EU co-financing, a large number of landmark projects have been implemented that have had a significant impact on the daily lives of citizens and the national economy.
The new decade brings with it ambitious plans. €600 million has already been allocated , more than 100 projects have been completed or are in progress, and by the end of 2029, this figure is planned to reach 160, for a total of €1.8 billion.
In Nicosia, projects such as the reconstruction of Eleftherias Square and the Makarios-Stasikratous-Evagorou shopping triangle, the modernization of Aglandzias Avenue and the Solomos Square city bus station , the restoration of the Nicosia Municipal Theatre, etc. have been co-financed within the framework of the Cohesion Policy programmes.
In Larnaca, the programme contributed to the construction of the traditional city municipal market, the renovation of the municipal garden and the creation of the Multicultural Centre for Creativity and Culture, in Paphos to the restoration of Hani Ibrahim, the renovation of Kennedy Square and the traditional city mall, and in Limassol to the construction of the Limassol Port Vertical Road and the modernisation of the port.
Other important projects include the establishment of the Stelios Ioannou Library of the University of Cyprus, which is a modern research centre with technological infrastructure, the development of the GHS IT system, the establishment of a network of Green Spots throughout Cyprus, etc.
By 2029, the THALYA2021-2027 program is expected to increase Cyprus’s GDP by another 6% and create 8,500 new jobs.
These figures will strengthen Cyprus’s position as a promising destination for investment and prosperous living.
