European Regional Development Fund (ERDF)
About the ERDF
The European Regional Development Fund (ERDF) constitutes one of the funding instruments of the Cohesion Policy in Cyprus, along with the Cohesion Fund, the European Social Fund+ and the Just Transition Fund. The objective of ERDF is the correction of the imbalances among EU countries and regions.
The ERDF funding focuses on two objectives:
Investments for the Development and Employment -Enhancement of the labour market and the regional economies.
European Territorial Cooperation - Enhancement of the cross-border, transnational and interregional cooperation within the EU.
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Fund Contribution to Cohesion Policy
The current section deals with the funding that is given through the ERDF aiming at “Investments for the Development and Employment”.
The funding for the objective “European Territorial Cooperation”, is analysed in a different section called European Territorial Cooperation.
For the programming period 2021-2027, the resources that have been allocated to Cyprus by the ERDF budget amount to €466.9M.
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Contribution of Fund Resources to Policy Objectives (PO)
Support Areas per Policy Objective (PO)
PO1: A more Competitive and Smarter Europe
ERDF Contribution: €147M
- Update and creation of new research infrastructures
- Research projects by new researchers
- Promotion of cooperation between businesses and research organisations
- Strengthening the extroversion of research and innovation system
- Plans for business innovation promotion
- Enhancement of Businesses competitiveness
- Enhancement of the creation of new entrepreneurship
- Enhancement of the cooperation across small and medium-sized enterprises
PO2: A Greener and more Resilient Europe
ERDF Contribution: €214M
- Energy upgrade and greenhouse gas emissions elimination
- Promotion of Renewable Energy Sources (RES) utilisation
- Creation of new infrastructures and improvement of the existing water distribution system infrastructures for water supply.
- Construction of sewage system and infrastructures that are utilised for processing the waste
- Construction of green infrastructures across the NATURA 2000 regions
- Protection and Retention of NATURA 2000 regions
- Promotion of actions according to the Sustainable Urban Mobility Pan (SUMP)
- Enhancement of social transportation and transition to green and sustainable transport
- Promotion of cycling
PO5: Europe Closer to Citizens
ERDF Contribution: €80M
- Regeneration of open public spaces
- Protection of cultural heritage
- Infrastructures that provide social services
The ERDF resources will be utilised through the Programme “THALIA 2021-2027”, whose Managing Authority is the Directorate General Growth, Ministry of Finance.