BRUSSELS - Cyprus expects its EU partners to show flexibility in its request to increase co-financing from EU funds during the 2014-2020 financial period, said Under Secretary to the President Constantinos Petrides on Monday’s session of the General Affairs Council.
The Council discussed the state of play concerning the Cohesion Policy legislative package for 2014-2020.
Addressing the General Affairs Council, Petrides stressed how important are community sources to enhance economic recovery efforts, amidst an unprecedented economic crisis that has dried up funds in Cyprus.
“A substantial increase in co-financing rates as regards the Structural Funds will help Cyprus in an efficient way, without creating any further burden on the EU budget” Petrides told the Council.
“The European Parliament understands the special circumstances in Cyprus. We expect that the Council and our partners will show the necessary flexibility in order for our country to make the most out of this important policy” he noted.