Politis

Official Statement of the Paphos DISY Municipal Team Regarding Loan Use Change and Securing Funding for Development Projects

Published February 19, 2026, 17:15
Official Statement of the Paphos DISY Municipal Team Regarding Loan Use Change and Securing Funding for Development Projects

The Paphos DISY Municipal Team has issued a statement regarding the change in the use of the loan originally linked to the project of the Paphos City Historical Documentation Center. It clarifies that the change in use does not involve an increase in borrowing or the creation of new debt for the Municipality, but is a modification of the purpose of use of the already approved amount, a standard procedure provided for by the Ministry of Interior. This action was taken to avoid illegal double funding of the project. The change in use ensures additional European funding of approximately €3.4 million, compared to the initial co-financing amount, thereby strengthening the ability to continue and complete other important development projects. The Municipal Team responds to claims of surprising the Municipal Council, noting that full information was provided during the meeting of December 9, 2024, which was unanimously approved on January 27, 2025. The team emphasizes the need for accuracy and institutional responsibility in public dialogue, while pledging to continue working for good governance, transparency and the rational utilization of every funding tool, with the aim of promoting the public interest and the sustainable development of Paphos.