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Cyprus , Source: Pixabay

Cyprus is at first place for absorption of the EU Regional Development Fund

Cyprus is at first place for absorption of the EU Regional Development Fund

Followed by Finland and Luxembourg

For a second consecutive year, Cyprus is ranked first among member states for absorption of the EU Regional Development Fund in 2018 and 6th concerning its take-up capacity from all EU funds.

According to EU data, Cyprus achieved an absorption rate of 46%, followed by Finland with 36% and Luxemburg with 35%. According to the Finance Ministry statement said that based on the certified cumulative payments, Cyprus not only achieved full absorption of EU funds but also ranked among those member-states with the best performance in the current Multiannual Financial Framework (2014-2020). Cypriot Finance Minister Harris also underlines the significance of these funds to secure sustainable growth, noting the government’s readiness to continue efforts towards that end.

Source: Financial mirror

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