Cyprus
to receive more than €50 million for project financing
The Minister of Communications and Works, Mr Marios
Demetriades, participated in the EU Informal Transport Ministerial Council,
which took place on 16 and 17 September, in Milan.
At the heart of the Informal Council was the operation
of the Trans-European Transport Network (TEN-T) which aims at a sustainable,
functional, safe and of high performance transport network throughout Europe.
The Ministers also discussed the issue of a financing mechanism with the
introduction of the “Connecting Europe Facility” from which Cyprus is expected
to receive more than € 50 million for the financial period of 2014-2020.
Additionally, the issues of smart and sustainable
development and economic and social cohesion were set as general priorities of
the Council, on the basis of which the above mentioned decision will be
implemented. The project, as it was planned, includes nine corridors. Cyprus has
joined the Orient/East–Med Corridor that starts in Hamburg, crosses Europe,
passes Greece, arrives in Limassol and ends in Nicosia. In the framework of this
project other road, port and intelligent transport system projects will be
financed.
In addition, the Council focused on ways of financing
the Trans-European Transport Network, with specific financial instruments, which
encourage the public-private sector partnerships. The European Commission and
the European Investment Bank will administer jointly these instruments.
On the sidelines of the Council, Mr Demetriades had a
meeting with the coordinator of the Orient/East–Med central corridor, Mr Mathieu
Grosch, with whom he discussed projects to be suggested by Cyprus for
funding.
