EU Backs Comprehensive Reforms in Cyprus
In a significant move to bolster Cyprus’s administrative and economic infrastructure, the European Union has announced its support for a series of reform support projects under the Technical Support Instrument (TSI). Among the key initiatives is the establishment of an asset management office, aimed at enhancing the country’s financial stewardship.
These reforms are part of a broader strategy by the EU to increase competitiveness, resilience, and modernization across member states. The Commission has approved a total of 12 projects for Cyprus, which include both country-specific and multi-country endeavors, as part of a wider selection of 170 projects throughout the EU.
The Cypriot-specific projects cover a diverse range of areas. Notably, they include the structural review of the Cypriot Presidency and the improvement of the Cypriot deposit guarantee scheme, which are essential for strengthening governance and financial security. Additionally, the creation of the deputy ministry for migration and asylum reflects the EU’s commitment to addressing complex social challenges.
Other approved projects focus on the formal establishment of the Secretariat for the Coordination and Support of the Government Programme (SCSGP), reforming the civil protection system, and enhancing digitalization processes in law-making through an e-legislation platform.
The six multi-country projects will also provide Cyprus with substantial benefits. These include efforts to integrate gender mainstreaming in public policy, combat aggressive tax planning, and protect the EU’s financial interests from irregularities and fraud. Moreover, initiatives to fight bid rigging in public procurement, promote youth mental health, and strengthen mechanisms against torture showcase the EU’s holistic approach to reform.
With these comprehensive projects, Cyprus is poised to make significant strides in various sectors, reflecting the EU’s dedication to fostering sustainable growth and stability within its member states.
