Cyprus Times

Finance Minister: Full Utilization of Recovery Plan with Emphasis on Green Investments

Published March 24, 2026, 20:08
Finance Minister: Full Utilization of Recovery Plan with Emphasis on Green Investments

The Minister of Finance, Makis Keravnos, emphasized the government's intention to fully utilize the resources of the Recovery and Resilience Plan, prioritizing projects that strengthen the green transition and the resilience of the economy. Speaking at an event on the circular economy, the Minister highlighted the importance of public-private sector cooperation to maximize benefits for businesses and citizens. The national plan, which will be completed in 2026, includes significant investments and reforms in many sectors, aiming for a more resilient and competitive country. The green transition is considered even more imperative due to new geopolitical and energy challenges. Infrastructure with a total budget of approximately 570 million euros has already been implemented, such as the installation of photovoltaic systems in schools and the development of high-capacity networks. In addition, around 40 grant schemes worth 450 million euros are being implemented, targeting businesses and households, covering investments in energy efficiency, renewable energy sources, electromobility, and digital upgrades. Cyprus can draw a total of around 1 billion euros from the mechanism by 2026, while approximately 590 million euros have been disbursed to date. The Minister of Finance stressed that the absorption of funds is not an end in itself, but the essence is the real impact and benefits resulting from achieving the goals. The event presented the results of the measure “Promotion of the Circular Economy in Hotel Facilities,” where 19 hotels were certified as circular.