Dorita Yiannakou
The multiannual Cohesion Policy Program THALEA 2021-2027 serves as the backbone of Cyprus’s development strategy for the current programming period. Anthi Filippidou, Director of Cohesion Policy & Multiannual Financial Framework at the Ministry of Finance, told EPICHEIREIN during the DIASPORA NEWS broadcast on SPOR FM 95.0 that the program is designed to boost economic growth, social cohesion, and the green transition, fully aligned with European strategic priorities.
The program’s total budget is €1.5 billion, with €1 billion coming from European Structural Funds and the remainder covered by national resources.
Investments under THALEA span a wide range of sectors in the Cypriot economy, focusing on three strategic pillars: strengthening the productive base, increasing employment, and promoting inclusive social cohesion, Filippidou noted. Approximately €700 million of the program is dedicated to the green transition, with particular attention to tackling climate change and increasing the share of renewable energy in Cyprus’s energy mix.
Filippidou highlighted several projects that have proven popular with households while delivering societal benefits. Among them, the “Save & Upgrade” residential energy efficiency initiative has allocated €80–85 million in subsidies, benefiting over 2,500 households so far. To date, more than 150 projects are either underway or completed, and 100% of the program’s budget has already been activated through a variety of investments.
Looking ahead to the 2028-2034 programming period, Filippidou stressed that preparations are already underway, a process of strategic importance as Cyprus prepares to assume the Presidency of the Council of the EU. The European Commission has proposed a new €2 trillion budget, emphasizing EU competitiveness, defense and security, the continuation of green and digital transitions, Cohesion Policy, and the Common Agricultural Policy.
THALEA 2021-2027 has shown impressive progress, with Cyprus achieving its 2025 annual absorption target and ranking fourth among the EU’s 27 member states.
